Scope - Financial Summary

The Budget/Cost Variance columns describe differences between aspects of the cost account's budget and costs. These differences develop over the life of a workspace, as the true costs become clearer.

• Current Variance:

  Current Budget - Total Estimate at Complete

• Variance:

  Projected Budget - Estimate at Completion (EAC)

• Approved Changes: Approved change amounts, from Approved revenue change orders.
• Approved Original Budget: The approved budget for a cost account. This amount corresponds to a portion of the Scheduled Amount values from your Approved revenue contracts.
• Approved Transfers: The sum of all the lines with the ACR column 'Budget Approved Transfers.'
• Current Budget:

  The sum of existing budget values, calculated as follows:

  Approved Original Budget + Approved Changes + Approved Transfers + Proceed Budget

• Pending Budget:

  The sum of pending budget values, calculated as follows:

  Pending Original Budget + Pending Changes + Pending Transfers

• Pending Changes: Pending or unapproved change amounts, typically from Pending revenue change orders.
• Pending Original Budget: The original budget amount for a cost account. This amount corresponds to a portion of the Scheduled Amount values from your Pending revenue contracts.
• Pending Transfers: The total of proposed but unapproved transfers to or from a cost account.
• Proceed Budget: The budget amount that is not final, even though the work that it applies to has already begun. This amount corresponds to Scheduled Amt values from line items on Pending contracts or change orders.
• Projected Budget: The sum of Current Budget and Pending Budget.

• Approved Changes: Approved change amounts, from Approved expense change orders.
• Assigned Reserves: Money set aside for contingencies.
• Current Commitments:

  The sum of existing commitments, calculated as follows:

  Setoff Orders + Proceed Costs + Original Costs + Approved Changes

• Estimated Costs: An early estimate of the cost of the work that the cost allocations will pay for.
• Estimate at Completion (EAC): The sum of Current Commitments and Estimate to Complete (ETC).
• Total Forecasted:

  The sum of all pending amounts and reserves, calculated as follows:

  Pending Costs + Estimated Costs + Orders to Place + Assigned Reserves + Unassigned Reserves

• Orders to Place: The estimated amount of work still necessary to buy.
• Original Costs: Work for the allocations that has been purchased or agreed to in contracts. This amount corresponds to a portion of the Scheduled Amt values from your Pending expense contracts. It is also known as "Bought Original Scope" or "Orders Placed".
• Pending Costs: Commitments from unapproved expense contracts, change orders, and auto-commit invoices.
• Proceed Costs: This amount corresponds to the total of amounts from line items in contracts and change orders that have been authorized to proceed, but not approved.
• Setoff Orders: Work performed under one expense contract, but charged to another expense contract.
• Unassigned Reserves: Money set aside for unanticipated costs.