If you enter Budgets with your Jobs, this viewer will allow you to directly adjust the Percent or Cost to Complete as the Job progresses.
Before work begins on a job the cost to complete is equal to the budget. For this reason positive budget entries increase cost to complete in job history and negative budget entries decrease cost to complete in job history.
As work is performed, costs are incurred and progress is made. However, most of the time the % of work complete does not exactly match to the % of budget used. For this reason actual costs entered into the system do not subtract from cost to complete in job history. The Job Progress Viewer has been created for the purpose of reporting the actual percentage of work completed.
1. At the beginning of a job, a budget of $10,000 is entered for a billing item, cost code, cost category combination.
-This increases cost to complete in the system to $10,000.
2. Work begins on the job and $5,000 of actual costs are entered into the system.
-This has no impact on cost to complete in the system.
3. The Job Progress Viewer is used to update progress on the job.
-This will reduce the cost to complete in the system.
When the viewer is launched for the first time, in the above example, the software will guess that Percentage Complete = 50% and that the Cost to Complete = $5000. These system made calculations may be accepted by clicking change record; or the Completion Percentage or the Cost to Complete may be manually reported. In either case the following formulas will hold:
(Actual Cost) plus (Cost to Complete) equals (Projected Cost @ Completion)
(Actual Cost) divided by (Percentage Complete) equals (Projected Cost @ Completion)
With the Job Progress viewer, your Project Managers (or other authorized users) can directly set the Cost/Percent to Complete for each Billing Item, Cost Code, Cost Category combination specified for a Job.
This feature can be accessed from the Viewer list (View Job Progress) or from the Job Costing tab of the Folders viewer (Update Job Progress). This Viewer enables you to easily update the Actual Cost Percent Complete/Projected Total Cost to Complete. Note that your budget entries are not impacted by this function.
Registry Entry Job Progress Viewer
A registry setting may be enabled to allow Actual Costs to Exceed Projected Costs (for >100% Complete). If this registry is enabled, The system will NOT automatically calculate Over/Under Adjustments for you.
Job Id:
A valid Job Id.
Effective Date:
This date should be entered by the user. It determines the effective date of any changes to the job that you make in this viewer. The child lines are computed when the user enters an Effective Date.
Reported Thru
The most recent 'progress' effective date in the Job History is displayed in this field. The 'new' Effective Date cannot precede the Reported Date (if it has been set).
Cost Summary:
This display-only matrix displays the cost and budget entries you have made to this Job, and also reflects any updates that you make to the values in the lower half of the screen.
By default, note that when the Projected Cost equals zero, the Percent Complete is set to: (a) 100 when the Budgeted Cost IS NOT zero, or (b) Zero when the Budgeted Cost IS zero. This handles the special cases with the mis-coded actual costs (for example, if a user needed to mark a line as being 100% complete even though the line has zero actual costs.) The computations summarized in the following table:
|
ActualCost |
BudgetCost |
ProjectedCost |
PercentComplete |
|
zero |
zero |
zero |
N/A (line won't appear in the viewer) |
|
zero |
zero |
not zero |
N/A (line won't appear in the viewer) |
|
zero |
not zero |
zero |
100 |
|
zero |
not zero |
not zero |
Actual / Projected x 100 |
|
not zero |
zero |
zero |
N/A (Projected forced to equal Actual) |
|
not zero |
zero |
not zero |
Actual / Projected x 100 |
|
not zero |
not zero |
zero |
N/A (Projected forced to equal Actual) |
|
not zero |
not zero |
not zero |
Actual / Projected x 100 |
Job Cost Code Name - Billing Item Description - Cost Category Description Cost Type
This display-only information is maintained by the system. Information is organized by Billing Item Report Sequence, Cost Type, and Cost Category Name.
Budget Cost
The display-only field is based on your Job Budget entries (if any have been made for this Job).
Actual Cost
This field reflects the actual costs recorded through the Effective Date.
Percent Projected
This is the ratio of the ProjectedCost to the BudgetCost. Click to see the validations and calculations which take place when this field is changed by the user
Projected Total Cost
This is the expected total cost when the project is complete. Click to see the validations and calculations which occur when this field is changed by the user.
Projected Hours
This is the expected total hours of effort expended when the project is complete. Click to see the validations and calculation when occur when this field is changed.
Percent Complete
This is the manager's estimate of the progress achieved on the job. Click to see the validations and calculations which take place when this field is changed.
Cost to Complete
This is the estimated cost to complete the project.
Click to see the validation and calculations which take place when this field is changed.
Over/Under
This is the expected variance comparing Projected Total Cost to Budget Cost.
By default, this field will be set by the system when Actual + Committed equals or exceeds existing Projected Cost, so that the Over/Under adjustment is "forced" to bring the projection in line with Actual (Actual + Committed becomes the projection line IS 100% Complete). Click to see the validations and calculations when take place when this field is changed.
A registry setting may be enabled to allow Actual Costs to Exceed Projected Costs (for >100% Complete). If this registry is enabled, The system will NOT automatically calculate Over/Under Adjustments for you.
Messages
This column at the right of this tab will display a message if the actual cost exceeds the projected cost. If default behavior is in effect and actual will exceed projected, the message "Projected Adjusted to Match Actual" will be displayed if the line was adjusted when the Job was loaded in the viewer.
If the registry ActualCanExceedProjected is enabled, the message Actual > Projected (or the message defined via registry discussed will be displayed if the Actual Cost exceeds the Projected Cost on this line.
When you click the Save Record button, the appropriate changes will be made to the Cost to Complete field in Job History.