Cost Performance Data


Cost performance calculations are used to assess how well a cost item is performing with regard to its planned budget.


Each cost item can store two items of performance related data, namely the percentage of work completed in that cost item and the cost incurred to date. This data can then be used to make predictions of cost to completion and cost at completion for the cost item, and for the project as a whole.


The Parameters page of the Cost Data Entry form provides two different functions: identification field entry and cost performance data entry and calculations. This section deals with the cost performance functions.


Cost Data Entry Param Page


Entering Cost Performance Data

To perform cost performance analysis for any cost item you need to enter two quantities: the percentage of the work completed and the actual costs incurred so far.


1.   Enter the extent to which the work represented by the current cost item has been completed into the box marked % of work completed, as a percentage in the range 0-100. This figure is not necessarily the same as the percentage of the budget which has been spent.


2.   Enter the actual costs which have been incurred for this cost item up to the present date into the box marked Actual costs to date.


3.   The box immediately below the Actual costs to date box shows the Budget at Completion (BAC), i.e. the budget which has been set for this cost item. If the actual costs you have inserted are inclusive of taxes, check the with tax box next to the BAC box. If your actual costs are exclusive of taxes, leave the with tax box unchecked.


4.   Two different methods are provided to calculate the estimate to completion and the estimate at completion. Select whichever is most appropriate.