Review Cost Progress
Use Case
Use Case: The project controls manager compares actual costs to earned budget values to determine areas of the project that need extra attention. She runs a report to share with the Project Manager and review in the next team meeting.
To review earned value metrics based on costs, first set up a custom data block. Then you can review related formulas and inputs.
Custom Data Blocks
Custom data blocks will vary based on the organization. Following is an example of a data block focused on cost progress, but you may choose to make adjustments based on your needs.
Suggested Columns
-
CE or CB cost earned
-
Actual labor cost/MHr (to date)
-
Compensation factor (to date)
-
Actual cost (to date)
-
CE or CB cost G/L (to date)
To learn more about progress measurement in Control, watch this video:
Review Formulas and Inputs
Each column in your data block will display a specific data point (such as actual quantity to date) or a formula. To view the formula for a column, hover your cursor over the column header.
Review the following earned-value formulas related to costs:
Once your custom data blocks are in place and you’ve reviewed the formulas, review inputs and how they drive the calculated values for:
-
Earned value
-
Compensation factor
-
Gain/Loss (G/L)
For more information on progress measurement in Control, access the following: