Overview
Once the Project Master record is established, a budget can be entered using the Project/Budget Cost function. The Project Workbench process also shows these same Budget and Actual amounts, as well as the Variance amounts (Budget versus Actual).
The budgeted amounts are entered on the Budgets tab. The project budget costs are the planned project costs against which the actual costs are compared. The project budget costs should be entered at the start of the project, to provide a basis for variances.
The actual cost values will be updated by the system, as they occur, on the Actuals tab. All Rootstock transactions update the Actual values shown here and in the Project Workbench. This allows for comparison against the manually entered Budget numbers.
Application
Used by a project manager, project planner, sales person, financial person or other responsible individual to plan and manage the project activity, budgeted project cost to actual costs.
Navigation
Project Budget/Cost
Process
Enter Project: Select the Project to view
Use Details for Budget Totals: When checked, Budget Details records are used as the basis for Project Budget totals.
Budgets Tab
Fields
Budget Material: This is the Total Material Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Labor: This is the Total Labor Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Material Ohd: This is the Total Material Overhead Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Labor Ohd: This is the Total Labor Overhead Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Fringe Ohd: This is the Total Fringe Overhead Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Machine Ohd: This is the Total Machine Overhead Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Sub Material: This is the Total Subcontract Material Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Sub Labor: This is the Total Subcontract Labor Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Indirect ODC: This is the Total Indirect (ODC) Other Direct Charges Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Misc ODC: This is the Total Miscellaneous (ODC) Other Direct Charges Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Service ODC: This is the Total Service (ODC) Other Direct Charges Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Travel ODC: This is the Total Travel (ODC) Other Direct Charges Cost budgeted for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Subtotal Budget: This is the Total Budget for all Budget categories (above) for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Total Revenue: This is the total revenue for budget The Budget Amount is compared with the Actual Amount
Budget Product Revenue: This is the Total Budget amount for Product Revenue (from Product Sales) for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Budget Services Revenue: This is the Total Budget amount for Services Revenue (from Services Sales) for the Project. The Budget Amount is compared with the Actual Amount (displayed on the ‘Actuals’ tab) to determine the variance amount in the Project Workbench.
Actuals Tab
Fields
Actual Material: This is the Total Actual Material Cost amount for the Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Actual Labor: This is the Total Actual Labor Cost amount for the Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Actual Material Ohd: This is the Total Actual Material Overhead Cost amount for the Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Actual Labor Ohd: This is the Total Actual Labor Overhead Cost amount for the Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Actual Fringe Ohd: This is the Total Actual Fringe Overhead Cost amount for the Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Actual Machine Ohd: This is the Total Actual Machine Overhead Cost amount for the Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Actual Sub Material: This is the Total Actual Subcontract Material Cost amount for the Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Actual Sub Labor: This is the Total Actual Subcontract Labor Cost amount for the Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Total Indirect ODC: This is the sum of all actual Indirect ODC records for the given Project.
Total Misc ODC: This is the sum of all actual Misc ODC records for the given Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Total Service ODC: This is the sum of all actual Service ODC records for the given Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Total Travel ODC: This is the sum of all actual Travel ODC Detail records for the given Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Subtotal Costs: This is the Total Actual Cost Amount for all Actual categories (above) for the Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Actual Total Revenue: This is the sum of actual revenue.
Actual Product Revenue: This is the Total Actual Product Revenue Amount (from Product Sales) for the Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Actual Services Revenue: This is the Total Actual Services Revenue Amount (from Services Sales) for the Project. The Actual Amount is compared with the Budget Amount (displayed on the ‘Budgets’ tab) to determine the variance amount in the Project Workbench.
Details Tab
Fields
Suppress Proj Budget Details / CSO Line: Suppress Project Budget Details from CSO Line
Total Detail Material: This is the sum of all Material Detail records for the given Project.
Total Detail Labor: This is the sum of all Labor Detail records for the given Project.
Total Detail Material OHD: This is the sum of all Material OHD Detail records for the given Project.
Total Detail Labor OHD: This is the sum of all Labor OHD Detail records for the given Project.
Total Detail Fringe OHD: This is the sum of all Fringe OHD Detail records for the given Project.
Total Detail Indirect ODC: This is the sum of all Indirect ODC Detail records for the given Project.
Total Detail Misc ODC: This is the sum of all Misc ODC Detail records for the given Project.
Total Detail Service ODC: This is the sum of all Service ODC records for the given Project.
Total Detail Travel ODC: This is the sum of all Travel ODC Detail records for the given Project.
Total Detail Machine OHD: This is the sum of all Machine OHD Detail records for the given Project.
Material Details Button: This is used to add the details of the material required.
Fields
Project Charge Code: The Project Charge Code associated with this Material Detail record.
Item Number: The Item Number specified for this Material Detail record.
Quantity Required: The quantity required defined for this Material Detail record.
Unit Cost: The unit cost of the Item Number specified for this Material Detail record.
Material Overhead Rate: The Material overhead rate to be applied to material used as specified for this Material Detail record.
Subcontract: When checked, this indicates that the material defined in this Material Detail record is for an outside (subcontract) operation.
Total Qty times Cost: The total material cost (System calculated value: Unit Cost x Qty Required) for this Material Detail record.
Total Material Overhead: The total material overhead (System calculated value: Total material cost x Material Overhead Rate) for this Material Detail record.
Labor Details Button: This is used to add the details of the Labor required.
Fields
Project Charge Code: The Project Charge Code associated with this Labor Detail record.
Operation: The user-defined number of the operation to be performed for this Labor Detail record. When multiple Labor Details are created, the numbering sequence defines the order in which the operations are to be performed.
Description: The user-defined description for this Labor Detail record.
Work Center: The Work Center where the operation is to be performed for this Labor Detail record.
Process: The Process specified for performing the operation for this Labor Detail record.
Labor Grades: The Labor Grade specified for performing the operation for this Labor Detail record.
Subcontract: When checked, this indicates that the defined operation is an outside (subcontract) operation.
Hours: The expected number of hours required for performing the operation for this Labor Detail record.
Hourly Rate: The hourly rate from the Labor Grade or Machine specified for performing the operation for this Labor Detail record. Although defaulted to the Labor Grade rate, it can be overridden.
Total Hours times Rate: System calculated value for the Hours x Hourly Rate for the operation for this Labor Detail record.
ODC Details Button: This is used to add other direct charges. Types can be- Travel, Indirect Material Purchases, Service Purchases, Miscellaneous Expenses.
Fields
Project Charge Code: The Project Charge Code associated with this ODC Detail record.
ODC Code: The pre-defined ODC Code definged for this ODC Detail record.
Type: The ODC Code Type for the ODC Code selected for this ODC Detail record. This is set from the ODC Maintenance program and cannot be overridden.
Description: The description associated with the ODC Code defined for this ODC Detail record.
Quantity: The quantity required defined for this ODC Detail record.
Cost: The unit cost of ODC specified for this ODC Detail record.
Total Qty times Cost: System calculated value for the Unit Cost x Quantity for this ODC Detail record.
SEE ALSO
Project Master
Project Status
Project Workbench
Project Charge Codes
Inventory by Item/Project
Inventory By Item/Site/Project Project Dashboard and Reports
