Remaining Cost fields

The Remaining Cost fields show the remaining scheduled expense that will be incurred in completing the remaining scheduled work.

There are several categories of Remaining Cost fields.

Data Type    Currency (currency field: A type of field whose content is expressed as a cost. Examples include the Actual Cost and Fixed Cost fields. The maximum value allowed in this field is 999,999,999,999.99.)

ShowRemaining Cost (task field)

Entry Type    Calculated (calculated field: A field in which the value is determined by Project based on information in other fields. Project may recalculate the value automatically or when you specify, depending on your choice of calculation settings.)

How Calculated    When you first create a task, the Remaining Cost field is the same as the Cost field. Once the assigned resources begin work on the task and report actual work, Microsoft Office Project calculates the remaining cost as follows:

Remaining Cost = (Remaining Work * Standard Rate) + Remaining Overtime Cost

Best Uses    Add the Remaining Cost field to a task sheet to review how much is yet to be spent for a task.

Example    The "Develop estimate" task is assigned to Sean and Jamie for five hours of work each. Their standard rates are both $20 per hour. At the start of the task, the remaining cost is $200. When the resources report two hours of actual work ($40), the remaining work is eight hours, and the remaining cost becomes $160.

ShowRemaining Cost (resource field)

Entry Type    Calculated (calculated field: A field in which the value is determined by Project based on information in other fields. Project may recalculate the value automatically or when you specify, depending on your choice of calculation settings.)

How Calculated    When you first add a resource, the Remaining Cost field is the same as the Cost field. Once the resource begins reporting actual work on tasks, Microsoft Office Project calculates the remaining cost as follows:

Remaining Cost = (Remaining Work * Standard Rate) + Remaining Overtime Cost

Best Uses    Add the Remaining Cost field to a resource sheet to review how much is yet to be spent for a resource. This applies to all work assigned to the resource for all assigned tasks.

Example    You're tracking costs for a resource with a rate of $20 per hour. The resource is assigned to many different tasks throughout the duration of the project, which together will take 100 hours. Before the resource has begun reporting actual work, the remaining cost for all tasks assigned to the resource is $2,000. Then the resource reports 3 hours of work on one task and 7 hours of work on another task for 10 hours of actual work, or $200 of actual cost. The remaining cost changes from $2,000 to $1,800.

ShowRemaining Cost (assignment field)

Entry Type    Calculated (calculated field: A field in which the value is determined by Project based on information in other fields. Project may recalculate the value automatically or when you specify, depending on your choice of calculation settings.)

How Calculated    When an assignment (assignment: A specific resource that is assigned to a particular task.) is first made, the Remaining Cost field is the same as the Cost field. After the resource begins work on the assignment and reports actual work (actual work: The amount of work that has been performed on a task or assignment. When you enter actual work on a task, the remaining work is calculated using this formula: Remaining Work = Work - Actual Work. Actual work is often referred to as "actuals."), Microsoft Office Project calculates the remaining cost as follows:

Remaining Cost = (Remaining Work * Standard Rate) + Remaining Overtime Cost

Best Uses    Add the Remaining Cost field to the timephased (timephased: Task, resource, or assignment information that is distributed over time. You can review timephased information in any available time period in the fields on the right side of the Task Usage and Resource Usage views.) portion of the Task Usage or Resource Usage view (view: The combination of one or more views [Gantt Chart, Resource Sheet, and so on] and if applicable, a table and a filter. Use views to work with information in a variety of formats. There are three types of views: Charts or graphs, Sheets, and Forms.) to review how much is yet to be spent for an assignment.

Example    An assignment consists of 10 hours for a resource with a rate of $20 per hour. At the start of the assignment, the remaining cost (remaining cost: The estimated cost that is yet to be incurred for a task, resource, or assignment.) is $200. When the resource reports two hours of actual work ($40), the remaining work is eight hours, and the remaining cost becomes $160.

 
 
Applies to:
Project Professional 2013, Project Standard 2013, Project 2010, Project 2007, Project 2003