How is Total Planned Cost calculated on the Projects ?

[Ketan Mittal1]

How is Total Planned Cost calculated on the Projects ? Is it the some of the Total Actual Cost / Total Planned Cost ?

Or is it derived via the Functional Cost from the Cost Plan Breakdown ? 

When I update the Cost Plan, I wonder why the Total Planned Cost on the Projects is not recalculated ? I even clicked on Calculate Completion Estimates but that doesn't work. Need help.

[Saurav11]

Total Planned Cost: It's the total estimated cost of the Project. In ServiceNow, it is just a sum of all cost plans items

For some projects, total planned cost is calculated from the associated cost plans and in some other projects, total planned cost is calculated from the associated cost plans as well as from the cost plans of the sub projects.

You can refer this article as well for more information:-

https://www.linkedin.com/pulse/financial-calculations-servicenow-ppm-rajesh-singh-pmp-/

Hope this helps. Please mark the answer as correct/helpful based on impact.

[Sulabh Garg]

Hello

Please follow below KB article, if you want to understand the roll up calculation from subprojects to parent project.

https://support.servicenow.com/kb?id=kb_article_view&sysparm_article=KB0783015

Please Mark ✅ Correct/helpful, if applicable, Thanks!! 

Regards

Sulabh Garg

[Miguel Donayre]

Hello

you have to set the setting (system property) to true for it to roll up 

go to Project - Project administration -- > settings--> preference - Project -- > and set "the Enable project cost rollup (estimated and actual) - updating the cost of a project task will update the cost of its parent" setting to true (just check the check box.

[Namita Mishra]

Hi @Ketan Mittal ,

Total planned cost is the sum of functional cost of all the cost plans.

As per the out of the box behaviour, when the cost at the cost plan gets updated, the total planned cost at the project level should also update.

FYI, clicking on Calculate Completion Estimates is NOT required to update the total planned cost.

If you find the response helpful, feel free to please mark it as Helpful / Correct Answer.

Thanks,

Namita Mishra