Cost Calculations

Planned hours (or Work) will affect Planned Cost.

Budgeted Cost : this is calculated from Work and resource cost rate.

Fixed Cost : allows Project Managers to enter a fixed cost amount.

Fixed Cost amount overrides the Budgeted Cost.

Actual Cost is derived from Actual effort and resource cost rate.

If Fixed Cost is entered , when the workitem is completed, the fixed cost will override the Actual cost.