Financial Fields

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The financial fields of any give work item can only be viewed by the financial user assigned to the work item itself.

Financial users can access the financial fields either by the creation of Customized Column Views or by viewing Work Item Profile Cards.

Contents

Standard Finance Fields

Total Estimated Cost
This field is manually entered and represents the Estimated Overall cost of completing the work item.
Budgeted Cost
This field is rolled up from sub work items within the work item. Where budgeted cost is calculated using the cost rate linked to resources, or fixed cost.
Alternatively, this field can be manually entered by the financial user assigned to the work item.
Expected Revenue
This field is automatically rolled up from Billable sub work items of a Billable work item. Where expected revenue is calculated using the billing rate linked to resources, or fixed price.
Alternatively, this field can be manually entered by the financial user assigned to the work item.
Fixed Cost
The fixed cost is a manually entered field that represents a fixed cost on a work item (doesn't take into account the assigned resources cost rates).
If this field is entered, it overrides the budgeted cost of the specific work item.
Fixed Price
The fixed price is a manually entered field that represents a fixed price on a work item (doesn't take into account the assigned resources billing rates).
If this field is entered, it overrides the budgeted revenue of the specific work item.
Actual Cost
The actual cost is an automatically calculated field that takes into account the actual progress completed on a each individual work item, and then rolled up into the parent objects.
Actual cost is calculated by multiplying the actual effort by the cost rates of the individual employees assigned to a task.
This field can be manually updated by a financial user within a work item
Actual Revenue
The actual revenue is an automatically calculated field that takes into account the actual progress completed on a each individual Billable work item, and then rolled up into the Billable parent objects.
Actual revenue is calculated by multiplying the actual effort by the billing rates of the individual employees assigned to a task.
This field can be manually updated by a financial user within a work item
Cost Balance
This is an read only field that automatically calculates the budgeted cost - actual cost
Revenue Balance
This is a read only field that automatically calculates the actual revenue - expected revenue
Profit
This is a read only field that automatically calculates the profit of a work item or the actual revenue - actual cost
% Profitability
This is a read only field that automatically calculates the % profitability or the (profit/actual revenue) * 100
% Invested
This is a read only field that automatically calculates the actual investment in the work item or (actual cost/budgeted cost) *100

Cost Performance Tab

The fields located in the Cost Performance tab measures the efficiency of a work item based on the actual and planned costs.

Earned Value
The Earned Value (EV) is used to measure the progress of a work item by calculating how much of the budget has been used in a work item at any given time.
This is a read only field that automatically calculates the budgeted cost *%completion
CPI
The Cost Performance Index (CPI) measures the actual cost efficiency of a work item.
This is a read only field that automatically calculates EV/actual cost
SPI
The Schedule Performance Index (SPI) measures the progress and efficiency of a work item.
This is a read only field that automatically calculates EV/(Budgeted Cost*Expected Progress)
ETC
The Estimate to Complete (ETC) is used to determine what the expected cost of completing the work item will be.
This is a read only field that automatically calculates (budgeted cost-EV)/(CPI*SPI)
EAC
The Estimate at Complete (EAC) is used to determine what the expected overall costs of a work item will be upon completion.
This is a read only field that automatically calculates actual cost + ETC
TCPI
The To Complete Performance Index (TCPI) measures the expected cost efficiency of a work item at it's completion.
This is a read only field that automatically calculates (EAC - EV)/(budgeted cost - actual cost)
Cost Variance
The Cost Variance measures the difference between the earned value and the actual cost
This is a read only field that automatically calculates EV - actual cost

Revenue Performance Tab

The fields located in the Revenue Performance tab measures the efficiency of a work item based on the actual and planned revenues.

Revenue EV
The Revenue Earned Value (Revenue EV) is used to measure the progress of a work item by calculating how much revenue is expected in a work item at any given time.
This is a read only field that automatically calculates budgeted revenue * %completion
Revenue EAC
The Revenue Estimate at Complete (Revenue EAC) is used to determine what the expected overall revenue of a work item will be upon completion.
This is a read only field that automatically calculates actual revenue + revenue ETC
Revenue ETC
The Revenue Estimate to Complete (Revenue ETC) is used to determine what the additional expected revenue of a work item will be at its completion.
This is a read only field that automatically calculates (expected revenue- revenue EV)/(RPI*SPI)
RPI
The Revenue Performance Index (RPI) measures the actual revenue efficiency of a work item.
This is a read only field that automatically calculates revenue EV/actual revenue
RTCPI
The Revenue to Complete Performance Index (RTCPI) measures the revenue that will be required to meet the projected revenue expectations upon completion of the work item.
This is a read only field that automatically calculates (revenue EAC - revenue EV)/(expected revenue - actual revenue)

Expenses Tab

The expenses tab gathers data of all expenses from within a work item, which is then rolled up into the parent work item.

Planned Expenses
Sum of all expenses planned for a work item and sub-items
This is a read only field that automatically calculates the "Direct Planned Expenses" of the work item and all of its sub-items.
Direct Planned Expenses
Enables you to manually enter the planned expenses of the specific work item.
This field will be used to calculate the "Planned Expenses"
Planned Billed Expenses
Sum of all planned billed expenses for a work item and sub-items
This is a read only field that automatically calculates the "Direct Planned Billed Expenses" of a work item and all of its sub-items.
Direct Planned Billed Expenses
Enables you to manually enter the planned billed expenses of the specific work item.
This field will be used to calculate the "Planned Billed Expenses"
Actual Expenses
Sum of all approved expenses that are related to a work item and sub-items
This is a read only field that is automatically calculated by summing up all the approved expenses of a work item and its sub-items
Projected Expenses
Sum of all expenses that have not yet been approved that are related to the work item and sub-items
This is a read only field that is automatically calculated by summing up all the submitted (not yet approved) expenses of a work item and its sub-items
Actual Billed Expenses
Sum of all expenses that are both billable and approved that are related to the work item and sub-items
This is a read only field that is automatically calculated by summing up all the approved billable expenses of a work item and its sub-items
Project Billed Expenses
Sum of all expenses that are billable and not yet approved that are related to the work item and sub-items
This is a read only field that is automatically calculated by summing up all the submitted (not yet approved) billable expenses of a work item and its sub items


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