Cost and Revenue Tracking

Resolved · Urgent Priority · Version 2003

Tue 8 Sep 2009, 10:33 Delegate Paul said...

Paul has attended:
Project Intro Intermediate course
Excel Advanced course

Cost and Revenue Tracking

I understand it is possible to format a 'cost' colum to show revenues for my porject. However I want to be able to report Gross Margin for items that are costed on a daily rate basis but earn revenue on an accrued lump sum basis (ie a proportion of a lump sum). Can we configure project to do this?

As an example I have a survey vessel that is costing me £20,000 fixed costs PLUS £20,000 per day to complete a survey that I ESTIMATE will take me 5 days to complete. I will charge the client a lump sum of £150,000 for the survey irrespective how long it takes me to complete but if it takes me longer than 6.5 days (£20,000 + 6.5*£20,000 = £150,000) I will start to lose money.

I want to ideally be able to track what my fixed and day rate costs are, what my accrued revenue is and therefore my Gross Margin (Revenue-Cost of Sales) and percentage Gross Margin Percentage (= (Revenue-Cost of Sales)/Revenue)

Can you demonstrate that MS Project can do this please?

kind regards

Paul Fisher

Wed 9 Sep 2009, 13:49 Trainer Simon said...

RE: Cost and Revenue Tracking

Hi Paul,

Thank you for the question.

I am currently looking at the question and myself or my colleague Stephen will respond back to you.

Regards

Simon

Thu 3 Dec 2009, 14:43 Trainer Andrew said...

RE: Cost and Revenue Tracking

Hi Paul

I just wanted to check in with you and see how you are getting on with your cost fields.

Customising a field such as Cost1 would enable you to build formulas along the lines you describe.

To customise a field go to Tools > Customize fields and choose cost type then select Cost1.

With the field selected click on Formula. Note the = symbol is added for you by Project, there is no need to type it in.

To refer to a field within the Project database use square brackets around its name. For example you might use

[Fixed Cost]+([Duration]*20000)

where [Fixed Cost] for this task has already been set to 20000

Based on this principle you could customise several cost fields to contain the results of your calculations or reuse them in further formulas.

I hope this helps. Do let us know if you have any further questions.

Kind regards,
Andrew

Wed 9 Dec 2009: Automatically marked as resolved.

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MS Project tip:

Inserting Task Durations Quickly

When entering durations for your tasks simply use the single letters - m for min, h for hr, d for day, w for week, but mon for month. If default is set for days, you need only type the number, for example 3 for 3days, or 0.5 for half a day.

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