Forecast Scheduler - Cost Model
A 'Cost Model' requires you to add the following to your 'Workload Model' and into your scheduling application:
- Capital Available: The capital available is the budget as approved,
- Charge Accounts: Account categories from the budget in a lookup table visible in a custom field in Microsoft Project to tag tasks, resources or assignments.
- Cost and Material Resources: Cost resources and Material resources to capture all other expenses needed for the project.
- Charge Rates: These are the Standard Rate, Overtime Rate and Cost per Use for each resource.
- Cost Accrual: Cost accrual is when the costs should be charged to the project.
- Changing Rates over Time: How rates change each calendar year.
All these terms start with a ‘C’, so we refer to ‘cost modeling’ also as ‘6C‑scheduling’.
A Cost Model is about twice as big as a Workload Model: It will allow you to forecast the total cost for a project, while it will still allow you to forecast the duration and workloads of the project as well. Please refer to our White Paper titled 'Proficiency Levels in Project Scheduling' for a detailed explanation of each certificate of competency.
This product consists of a detailed evaluation report of your Microsoft Project Schedule. Optionally, you can add a one-hour, online review of your schedule to this in which the detailed schedule evaluation report will be discussed.