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Using percentage terms on a piece of equipment to show what payment is in MS Project 2013 RRS feed

  • Question

  • Will someone help me with helping me set up three custom fields to show what the payment on a piece of equipment will cost?

    EX:  

    30% down, 30% 8 weeks after order placement, 40% Balance Due Before Shipment Date (Order date was 11/05/2014)  OR

    35% original material order placement, 45% additional material order placement, 20% remaining material order placement

    I am using MS Project 2013 on a stand alone NOT server.

    Your help would be appreciated.

    Thank you,

    Celia Gomez

     

    Celia Gomez

    Tuesday, November 11, 2014 7:28 PM

All replies

  • Hi Celia,

    It sounds like you need to create a custom field with a lookup table.  To do this you will need to use the type 'Outline Code' This will allow you to create a custom field and select predefined values.

    You can do this from the 'Properties' section of the 'Project' ribbon then selecting 'Custom Fields'

    Select the Drop down menu in the top right hand corner of the 'Custom Fields' dialogue and select 'Outline Code'

    Then select 'Lookup' and define values

    Hope this helps.

    Tom


    • Edited by Tom_Henry Tuesday, November 11, 2014 7:39 PM typo
    Tuesday, November 11, 2014 7:37 PM
  • Thank you for the quick response - I appreciate your help.  My problem is not knowing how to setup the values (Ex. the equipment cost is $708,000.00, would I need to create three outline codes for a piece of equipment?  What if I have a different piece of equipment with different terms within the same schedule?  

    Again Thanks for the help,

    Celia


    Celia Gomez

    Tuesday, November 11, 2014 7:54 PM
  • Hi Celia,

    Do you want the custom fields to show the values - for example 30% of 708,000.00?  You can do that by inserting one of the spare cost fields and then entering the formula with [Cost]*.30.

    However, you bring up a good point - what if you have 10 pieces of equipment, each with a different rate structure?

    My suggestion, keep an Excel spreadsheet list the equipment, payment schedule and due dates. Insert a hyperlink in your tasks involving that equipment to the Excel spreadsheet.  Excel is an excellent project scheduling tool - not great at cost accounting.

    I hope this helps.

    Tuesday, November 11, 2014 8:26 PM
    Moderator
  • Thank you Julie - I currently have a spreadsheet with all the equipment, I will insert the hyperlink as you suggested.

    Have a great week,

    Celia Gomez


    Celia Gomez

    Tuesday, November 11, 2014 8:31 PM
  • I agree with Julie, thanks for stepping in there :)

    I would try and keep this information separate from Project as that information is will not directly affect the schedule. 

    You may also like to create some kind of formula calculation that will look at the %complete of a task and calculate the cost based on variables.

    good luck Ma'am.


    • Edited by Tom_Henry Tuesday, November 11, 2014 8:45 PM typo
    Tuesday, November 11, 2014 8:45 PM
  • You're welcome Celia.  The good news is it is very little extra work.  You've already done the spreadsheet.
    Tuesday, November 11, 2014 8:49 PM
    Moderator
  • Cheers, Tom :-)
    Tuesday, November 11, 2014 8:49 PM
    Moderator
  • Thank you again Tom!

    Celia Gomez

    Tuesday, November 11, 2014 8:50 PM