Budget/Cost
Variance
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Most of the categories of information that appear on the Financial Summary page also appear on the Anticipated Cost Report (ACR). The difference is that on the ACR, the categories summarize the information from all of your workspace's cost accounts. The information on the Financial Summary page comes from one cost account only.
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.
The current variance, calculated as the Current
Budget minus Estimate at Completion.
The projected variance, calculated as the Projected
Budget minus Estimate at Completion
(EAC).
The internal current variance, calculated as the Current
Budget minus Internal+Estimate
at Completion.
The internal workspace variance, calculated as the Projected
Budget minus Internal+Estimate
at Completion.
The variance to current commitments, calculated as the difference of
Current Commitments - sum
of cost allocations with the ACR column "Certified Invoice"
The variance to the estimate at completion is calculated as Estimate
at Completion minus Certified
Invoiced.
The approved change amounts. This is from the sum of all line items with the ACR column Budget
Approved Changes. This ACR column is mainly used in Approved
change orders, but it can also appear in any other documents (cost accounts
or transfers, for example).
The original budget for the cost account. This amount comes from the
sum of all the allocations with
the ACR column Pending Original Budget.
The approved transfers to or from
the cost account. This amount comes from the sum of all allocations with
the ACR column Budget Approved Transfers.
Money from revenue invoices with a workflow state
of Approved – Pending Release for Payment
(RFP) or Closed -Released for Payment.
The current budget amount, calculated as follows.
Approved Original Budget + Approved Changes + Approved Transfers + Proceed Budget
Money from revenue invoices with a workflow state
that is not Approved – Pending Release
for Payment (RFP) or Closed - Released for Payment.
The pending budget amount, calculated as follows:
Pending Original Budget + Pending Changes + Pending Transfers
The pending or unapproved change amounts for the cost account. This
amount comes from the sum of all line
items with the ACR column Budget
Pending Changes. This ACR column is mainly used in Pending revenue change orders, but
it can also appear in any other documents (cost accounts or transfers,
for example).
The original budget amount for the cost account. This amount comes from
the sum of all allocations with
the ACR column Pending Original Budget.
The total of proposed but unapproved transfers
to or from the cost account. This amount comes from the sum of all allocations with the ACR column
Budget Pending Transfers.
The budget amount has not been finalized, even though the work has already
begun. This amount comes from the sum of all line items with the ACR column Budget
Proceed. This ACR column is mainly used in Pending
contracts or change orders, but it can also appear in any other documents
(cost accounts or transfers, for example).
The projected budget, calculated as the sum of the Current
Budget and Pending Budget.
The total billing amount, calculated the sum of the Certified
Billings and Pending Billings.
Approved Changes: The approved change amounts. This is from the sum of all line items with the ACR column Cost Approved
Changes. This ACR column is mainly used in Approved
change orders, but it can also appear in any other documents (cost accounts
or transfers, for example).
Assigned Reserves: Money that is set aside for contingencies. This is from the sum of all
allocations with the ACR column
Cost Assigned Reserves.
Certified Invoiced: Money that has been invoiced on expense invoices with a workflow state
of Approved – Pending Release for Payment
(RFP) or Closed – Released for
Payment.
Current Commitments: Setoff Orders + Proceed Costs + Original Costs + Approved Changes The total current commitments, calculated as follows:
Estimate at Completion (EAC): The total estimate at completion, calculated as the sum of Current
Commitments and Estimate to Complete
(ETC).
Estimate to Complete (ETC): Pending Costs + Estimated Costs + Orders to Place + Assigned
Reserves + Unassigned Reserves The sum of all pending amounts and reserves, calculated as follows:
Estimated Costs: An early estimate of the cost of the work that the cost account is paying
for. This is from the sum of all line items with the ACR column Cost Estimated.
This ACR column is mainly used in quotes,
but it can appear in any document.
Internal+Estimate
at Completion: This is the adjusted estimate at completion, calculated as the sum of
Estimate at Completion (EAC)
and Internal Adjustments.
Internal Adjustments: The cost adjustment that the workspace management team has identified
as necessary and appropriate.
Orders to Place: The estimated amount of work that has not entered the purchasing process.
This is also known as "Unbought Work." This amount is from the
sum of all allocations with
the ACR column Cost Orders to Place.
Original Costs: Work for the cost account that has been purchased or agreed to in contracts.
It is also known as "Bought Original Scope" or "Orders
Placed". This amount is from the sum of all line items with the ACR column Cost Original.
This ACR column is mainly used in Pending expense contracts,
but it can also appear in any other documents.
Pending Costs: The pending or unapproved change amounts for the cost account. This
amount comes from the sum of all line items with the ACR column Cost Pending
Changes. This ACR column is mainly used in Pending
cost change orders, but it can also appear in any other documents (cost
accounts or transfers, for example).
Money from expense invoices with a workflow state
that is not Approved – Pending Release
for Payment (RFP) or Closed –
Released for Payment.
The total amount from lines items in contracts and change orders that
have not been approved but have been authorized to proceed. This is from
the sum of all allocations with
the ACR column Cost Proceed.
Work that is performed under one expense contract, but charged to another
expense contract. This is from the sum of all line items with the ACR column Cost Setoff
Orders.
The total invoiced amounts, calculated as the sum of Pending
Invoiced and Certified Invoiced.
Money set aside for unanticipated costs.
This is from the sum of all line items with the ACR column Cost Unassigned
Reserves.
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