Project financial elements

Use the Financials viewlet to view the details of the project cost and revenue and to add the project expenses under various account expense heads.
Table 1. Financial calculations
  Labor cost Labor revenue
Forecast Planned effort of the resources/profiles assigned to the project X cost rate Planned effort of the resources/profiles assigned to the project X selling rate
Estimate Planned effort of the resources/profiles assigned to the task X cost rate Planned effort of the resources/profiles assigned to the task X selling rate
Actual Planned effort of the resources/profiles assigned to the project X cost rate Planned effort of the resources/profiles assigned to the project X selling rate
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Table 2. Financials viewlet fields
Field Description
Category Project expense head. Available only when the Account Head check box is selected while creating the charge code in the application admin area.
Forecast Forecasted cost for an account head in a project.
Estimate Expenses estimated an account head in a project.
Actual Actual cost incurred for an account head in a project.
Forecast variance Difference between forecast and actual cost.

Forecast variance = Forecast - Actual

Positive value, number greater than zero is favorable and negative value, number less than zero is less favorable.

Estimate variance Difference between estimate and actual cost.

Estimate variance = Estimate - Actual

Positive value, number greater than zero is favorable and negative value, number less than zero is less favorable.

Total cost Sum of all the cost rows excluding labor revenue.
Margin Difference between total cost and labour revenue.

Margin = total cost - labour revenue

Positive value, number greater than zero is favorable and negative value, number less than zero is less favorable.

Related concepts
Financials viewlet
Related tasks
Tracking project financials

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