Costs

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Cost monitoring is a relevant aspect of project management. In Twproject you can manage  both, cost generated by  work or additional costs. Cost related tools are by default restricted to Project Managers.

Costs are tracked for all tasks, and from a root project  it is easy to get an overview of the overall costs for the entire tree or for a branch.

Costs and budgets from children are collected to the parent, so you can decide whether to insert them as split on children or aggregated on the parent.

The additional costs/budgets set on assignments are also shown and considered in totals.

Additional costs can be managed in this cost page; usually this costs are independent from the work done, but are still related to the project. E.G.: hardware, licenses, courses, travel etc.

In the bottom box you will see budget, planned costs, and forecast margin  in relation to forecast, planned and actual.

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On this example your forecast margin (calculated with budget and planned costs) is 850. This is the first estimation you did, and probably it is really close to what you said to your “customer”.

Then, in a second phase you refined your estimation: the second line represent how it is going in relation to the planned.

Last row is the “real” situation, you had a budget of 2500, and you “spent” 1285. Great” there is a margin of 1215, better then the forecast!!!

Twproject lets you add custom fields on both budget and additional costs. Custom fields can be added from the administrator page.