Review and Manage Planned Cost and Hours

Explanation

Use this activity to review and manage information about planned cost and hours. Information about planned costs and hours are shown on planning items and on project deliverable items. They can be automatically retrieved from part costing and operation costs. It is also possible to manually add planned cost and hours on planning items by using project cost elements. Information about planned cost and hours are also reported as planned cost/hours on the connected project activity.

Prerequisites

In order to review planned cost information for material, a gross requirement calculation (GRC) should have been completed.

In order to review planned cost and hours for work task plan, requires a work task plan to be created.

System Effects

Information about planned cost and hours are summarized and reported as planned cost/hours on connected project activities.

Window

Project Deliverables Navigator

Related Window Descriptions

Project Deliverables Navigator/Planning Items
Project Deliverables Navigator/Planning Items/Cost/Hours
Project Deliverables Navigator/Cost/Hours

Procedure

Review planned cost and hours on a planning item in Project Deliverables Navigator/Planning Items:

1. Open the Project Deliverables Navigator window and populate it with values.
2. Click the Planning Items tab.
3. Select the planning item.
4. Right-click in the header of the Cost/Hours tab and click Update Project Cost and Hours.
5. Review information about planned costs and hours.

Add planned cost and hours on a planning item in Project Deliverables Navigator/Planning Items:

1. Open Project Deliverables navigator and populate it with values.
2. Open the Planning Items tab.
3. Select the planning item.
4. Click on Cost/Hours tab and create a new record.
5. Select a project cost element from List of Values.
6. Enter a value in the Level Override Cost Per Unit field.
7. Enter a value in the Level Override Hours Per Unit field.
8. Save your changes.

Review planned cost and hours on a project deliverable item and its underlying component structure, in Project Deliverables Navigator/Cost/Hours tab:

1. Open Project Deliverables Navigator and populate it with values.
2. Click the Cost/Hours tab.
3. Right-click and then click Calculate Item Cost and Hours.
4. Open Cost tab and review planned cost for project deliverable component structure.
5. Open Hours tab and  review planned hours for project deliverable component structure.

Review planned cost and hours for a work task plan:

• Planned hours for a work task plan = Planned Quantity in Work Task Plan/Resources tab x Duration in Work Task Plan/General tab
• Planned cost for a work task plan = Planned Quantity in Work Task Plan/Resources tab x Duration in Work Task Plan/General tab x Cost in Resource Detail/Cost/General tab.

1. Open Project Deliverables navigator and populate it with values.
2. Expand the tree and select a work task plan.
3. Open Work Task Plan\General tab and review the value in Duration field.
4. Open Work Task Plan\Resources tab and review Resource Group and the value in Planned Quantity field.
5. Open Resource Detail/Cost/General tab and search for the above resource group.
6. Review information in Cost field.
7. Open Project Deliverables navigator and select work task plan's parent item.
8. Open Planning Items tab and select the above work task plan item.
9. Right-click in the header of the Cost/Hours tab and click Update Project Cost and Hours.
10. Review values for planned cost and hours.
11. Planned cost and hours can also be further analyzed on the project activity, as described here: Evaluate Cost, Hours, Revenue and Progress from Connected Objects
    1. Open Project Navigator/Activity/Cost tab and review planned cost.
    2. Open Project Navigator/Activity/Hours tab and review planned hours.