How is planned cost, allocated cost, actual cost,cost plan,cost breakdown calculated.

[rajmiglani]

Hi All,

I am fairly new to ITBM and would like to understand in detail about following items related to Resource plan,

(i tried to search a lot but could not find clear answers to these questions yet)

1. How is planned cost calculated?

Is it the some of requested cost field of all the records of requested allocations related list of a resource plan?

2. How is allocated cost calculated?

is it the some of allocated cost field of all the records of resource allocations related list of a resource plan?

3. How is actual cost calculated?

is it the total cost of all the processed time cards filled by a user for a project?

4. Would like to know what is relationship   and calculations between demand /project cost plan and resource plan planned hours/resource plan allocated hours?

Would appreciate your help.

Regards

Raj

[Steven G_]

Hi Raj,

Here is my understanding:

1. How is planned cost calculated?

Planned cost is calculated based on the hours requested on the resource plan, the system has a default blend rate it calculates against.

2. How is allocated cost calculated?

When a resource manger selects the resources and the time is split between them, the system looks for a labor rate card fort hat resource and then calculates the cost for the hours

3. How is actual cost calculated?

Actual cost is calculated based on the resources time card and the rate they have in the system. (caution: in order for the actuals to roll ou to the resource plan, the resource must associate the time card against the record that holds the resource plan. Example, if the resoruce plan is on the project level and has not been depriacted througout the ptoject tasks, then the resource must select the project on the time card and once it is approved it will aggregate against teh resource plan as an actual.)

4. Would like to know what is relationship   and calculations between demand /project cost plan and resource plan planned hours/resource plan allocated hours?

Resource plans on the demand are ususally done for sizing, if Effort is needed to be tracked against a demand they should use teh demand number to submit time cards. Resource plans on a project should be "allocated" and they are the Actual plans recorded against for "actual" effort exerted.

Hope this helps, this is about 1 month of the team and I having to go through include scripts and logic to figure this out...Hope this helps

[nnadendla]

Hi Steven ,

Do you know how the values for the following fields are calculated?( AT Project Level(pm_project) under financials tab)

Actual cost ,

Estimated cost

Budget cost

We are using Cost plan,Project budget, expense line and cost break down to populate the the above fields.

Thanks in Advance for any help

-Neha

[lana5]

Hello, would anyone know how the actuals calculated in the Benefit breakdown?