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Total Costs


Darren Rose
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Would it be possible to have a Total Cost added to the Cost Tab which adds up all of the individual rows? 

Or adds it add a field on the Overview tab? 

If it could populate the Budget field on the details form, that would be be pretty perfect too 

Thanks

Darren 

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@Darren Rose Thanks for your post. 

I agree this is definitely something that would add great value (pardon the pun). I remember during the development of the costs tab that this was discussed but there were concerns around calculation totals if individual costs were in different currencies. I will ask our development team to see what they can do and are planning for this area.

Regarding the budget field, I presume you mean adding a budget when entering in the project name and description? There is a separate budget form in progressive capture that you can use when first creating a project as a workaround for now if that's something that works for you? Also, its worth mentioning that the budget field is one of those that will be part of a project template, so look for that when we roll out the project template functionality.

 

Alex

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Right ok, thanks for that. Just another thought would help on the Costs tab would be have a Total Estimated Costs as well as the Total Actual Costs. Ideally Total Estimated Costs would be at the line level too, so that it's easy to see the value different (which can see on the chart, but not on the table. If this also included a column showing the variance, then we'd be on to a winner

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+1 for costs. We would need a native view where you can see all the associated costs at once, and ideally the estimated and actual costs too (especially when near the end of a project).

We have a similar issue around currency conversion in our current system and the work around we identified is extremely basic but works: only 1 currency allowed (USD for us) and if a conversion is required (for example you received a quote in GBP), then you convert the cost using google and mention the x-rate as a comment on the timeline :)

Very simple but incredibly effective!

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  • 3 months later...

@Darren Rose @Lyonel Just an update here on a couple of the points raised.

1. It is now possible to fix the currency for the each project 

2. Total Running Costs  are now shown and the Project Budget on the Project Costs view

image.png

3. On the project overview view, you can see in percentage terms the current project running costs against the project budget

image.png

4. You can now attribute hourly rates to all project stakeholders, and when adding resource time to project tasks - this time is added as Resource Costs to the project (working on resource time x their hourly rate) , allowing you to include project resource costs alongside other project costs.

 

 

image.png

Hope this helps

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