Execute Calculate Value at Work Recording Summary
Explanation
This activity will calculate the Cost and Revenue values, Progress percentage and the Earned
Value based on your Production Schedule of Work. Once the function Calculation Value is performed, it is
possible to analyze the SOW Production and work progress from four different
perspectives:
- Summary by Cost Element: Visualizes the calculated
cost and revenue values and the progress for each cost/revenue element used in your estimate.
- Summary by CBS: Can be used to analyze the
calculated cost and revenue values and the progress for each CBS Node.
- Summary by WBS: Navigates to the Schedule Of Work
Production WBS Summary page, allowing you to visualize the
calculated cost, revenue, margin, and margin percentage values for
each sub project and activity.
When cost types enabled in
Schedule of Work Cost Types page and Cost Element – Cost Type Mapping is defined for the respective cost types, it is possible to visualize the calculated
Total Cost distribution per user define cost type buckets in
Connected Sub Projects tab in Schedule Of Work
Production WBS Summary page.
- Summary by QBS: Navigates to the Schedule Of Work
Production QBS Summary page, allowing you to visualize the
calculated cost, revenue, margin, and margin percentage values for each QBS Node.
Additionally, the calculated total cost distribution per user-defined
cost type buckets can be viewed on this page as well.
The
Connected Items tab in both the Schedule Of Work Production QBS Summary and
Schedule Of Work
Production WBS Summary pages, allows you to drill down to SOW Items and Details
to view the cost and revenue value calculation details for each SOW item.
The Details command in the
Value Summary by CBS and Value Summary by Cost Elements pages will be giving the same visualization.
Prerequisites
- Schedule of Work Production should be created with Cost and Revenue Element values.
- Schedule of Work Validate function is performed without any errors.
- The Relevant Cost Types enabled in Schedule of Work Cost Types page.
- Cost Element – Cost Type Mapping is defined for enabled Cost Types.
- Work Recording need to be performed, in order to see the Quantity and/or Cost Progress of your Production SOW.
System Effects
The defined cost/revenue sub project and activities are prioritized when
executing the calculation based on the following order:
- Detail Level
- Item Level
- Default Sub Project and Default Activity values (on the Schedule of
Work header)
Estimated Cost and Revenue values will ready to be reviewed in Project level, Sup Project Level or Activity Level based on your Schedule of Work.
Based on your selected Cost Element - Cost Type Mapping,
you will be able to see the Total Cost distribution to each enabled Cost Type in
the Schedule of Work Summary pages.