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MSPS Cost Reports RRS feed

  • Question

  • Hi All,

    I want to get cost reports from MSPS, i have updated std rate per resource in Resource Sheet. once i go to cost table i get the follow columns - Actual cost, Fixed cost, Total cost, Variance, Actual, Remaining, would like to understand how this is calculated? if we have 2 different calendars.

    Regards,

    Hema

     

    Tuesday, November 29, 2011 6:23 AM

Answers

  • Hi Hema,
     
    Welcome to this Microsoft Project forum:)
     
    Calendars shouldn�??t make any difference as costs are calculated by the man-hour.  Where are you seeing problems?
     
    FAQs, companion products and other useful Project information can be seen at this web address:  http://project.mvps.org/faqs.htm
     
    Hope this helps - please let us know how you get on :)
     
    Mike Glen
    MS Project MVP (97-11)
    See http://tinyurl.com/2xbhc for my free Project Tutorials
    Tuesday, November 29, 2011 9:15 AM
    Moderator

All replies

  • Hi Hema,
     
    Welcome to this Microsoft Project forum:)
     
    Calendars shouldn�??t make any difference as costs are calculated by the man-hour.  Where are you seeing problems?
     
    FAQs, companion products and other useful Project information can be seen at this web address:  http://project.mvps.org/faqs.htm
     
    Hope this helps - please let us know how you get on :)
     
    Mike Glen
    MS Project MVP (97-11)
    See http://tinyurl.com/2xbhc for my free Project Tutorials
    Tuesday, November 29, 2011 9:15 AM
    Moderator
  • Hi Hema,

    You can get excellent help from hovering your mouse over the field heading if you are using Project 2007 or earlier.  Select the hyperlink "help on fieldname."

    For Project 2010, hover your mouse over the field heading and the press F1.

    I hope this helps.

    Julie

    Tuesday, November 29, 2011 5:23 PM
    Moderator
  • As Mike as stated, costs are per work hour times the rate in the Standard cost field for a resource (OT can be included also).   Since the fields you asked about are on the cost table, all of the fields will relate to cost values.  As Julie mentioned hover your mouse pointer over a field name to discover what the real field name is.  What you are seeing in the view is not the real names in most cases but changed names for the report.

    The actual cost value is based on number of hours marked completed for a resource on a task.

    Fixed cost is an flat value that you can add to a task.  Not calculated but will add into Total cost which is the total cost for the task.  I recommended entering a note on the task to explain these costs.

    Variance is the difference between the baseline cost value for the task and the actual cost spent on a task.  A negative number means you are ahead.  You must have set a baseline to get meaning in this value.

    Remaining is remaining cost that you have left to spend on the task.  Actual cost for work + remaining scheduled overtime work = remaining cost.

    Other costs that can influence the total cost number is values from Cost and Materials resources.

    Hope this helps.


    Ellen Lehnert, MVP, PMP, MCT Training/Consulting/Author ellen@lehnertcs.com, www.lehnertcs.com Author "Managing Projects using MS Project 2010 desktop" courseware, www.MVP-Press.com
    Tuesday, November 29, 2011 7:02 PM
    Moderator
  • Thanks Mike. As we can create several calendars, the Actual cost varies based on the standard time allocation. eg: standard hrs is 8hrs. if we create 9hrs calender the cost also must get calculated based on the time and actual hrs.
    Wednesday, August 7, 2013 12:57 PM
  • Thanks Julie that helped.
    Wednesday, August 7, 2013 12:58 PM
  • Thanks Ellen. Do we need to manually customize a different column to calculate?
    Wednesday, August 7, 2013 1:00 PM
  • Hema,

    The Actual Cost is still calculated based upon Actual Work * Standard rate.  If the resource works 9 hours per day - that resource will complete 40 hours of work earlier than a resource who works only 8 hours per day.  However, for both resources it is still 40 hours of Actual Work * standard rate.  If both resources start Monday morning and finish Friday night there would be a different amount of work 40 hours for the 8 hour per day resource and 45 hours for the 9 hours per day resource.

    I guess I'm not seeing specifically what your question is. 

    Wednesday, August 7, 2013 2:25 PM
    Moderator
  • What are you trying to calculate?
    Wednesday, August 7, 2013 2:25 PM
    Moderator