Cost Performance Dashboard
- 5 Minutes to read
Cost Performance Dashboard
- 5 Minutes to read
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The Cost Performance dashboard shows real-time metrics from the site about the number of tasks in progress and their monetary values, a look-ahead of upcoming checkpoints, milestones, project status, cost incurred, budget revisions, and more. The parameters, metrics, and statistics shown on the cost performance dashboard are based on your project estimate, schedule updates, job cost data, and change orders.
Note:
For General contractors, the parameters and statistics are based on project estimates, schedule updates, and change orders of self-performed tasks and deliverables in the project.
To open the cost performance dashboard
- Open the project management console
- Click 'Budget' on the top
The cost performance dashboard opens by default.
- Select 'Cost Performance' from the options on the left if you are on a different screen in the budget module.
An example is shown below:
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The dashboard shows the following cards and charts:
- Project Value
- Upcoming Events
- Tasks in Progress
- Timeline
- Project Status
- Job Cost
- Change Order Job Cost
- Budget
- Tasks & Days
- Schedule Performance Index
- Cost Performance Index
- Change Order
Project Value
Shows the budget allocated, the earned value, and the project progress percentage:
- Project Total Value- The current budget allocated
- Earned Value- The planned cost of the work completed so far, calculated as the Budgeted Cost of Work Performed (BCWP) from the total budget and the completion percentage
- Project Progress- The percentage of the project completed in terms of effort and cost allocated
Upcoming Events
Shows a heads-up on the days remaining for the imminent checkpoint and milestone.
- Next Milestone and Next Checkpoint - The next forthcoming milestone and checkpoint per the project schedule and the number of days remaining for them, respectively.
Tasks in Progress
- Shows the number of tasks running currently on the site and their monetary value as per the estimate
Timeline
The cards at the top right show the total planned labor in manhours and the execution duration in days:
Project Status
The charts show the baseline versus actuals for the budget, effort hours, and profit. Place the mouse on the chart bars to see their exact values and details.
| Cost | Effort | Profit | ||
| Planned | - | The total budget at completion (BAC), calculated from the estimates and the change orders excluding profits. | The total work hours of all task items, as included in the estimates and change orders. | The sum of profit values entered for all tasks in the estimates and the change orders. |
| Predicted | - | The estimate at completion calculated as a projection, using the actual cost of work performed (ACWP) and the current progress. | The total working hours actually required to complete all tasks, are calculated from the actual hours spent and the current progress. | The anticipated total profit, is calculated from the actual profit and the actual progress percentage. |
| Actual | - | The actual cost of work performed (ACWP) so far, calculated from the project managers' payment entries and the labor/equipment wages acquired from the time card entries. | The total of the actual hours spent on the tasks performed so far. | The profit actually gained so far, calculated from the sum of the planned profit and the cost variance. |
| Variance | - | The difference between the planned cost and the actual cost for the work performed so far. The cost variance is calculated by subtracting the ACWP from the budgeted cost of the work performed (BCWP). | The difference between the planned work hours and the actual hours spent for the work performed so far. The effort variance is calculated by subtracting the actual hours spent on tasks completed so far from the cumulative planned hours for the respective tasks in the estimates and the change orders. | The difference between the planned profit and the actual profit from the tasks completed so far. The profit variance is calculated by subtracting the actual profit from the cumulative profit values in the estimates and change orders for the respective tasks. |
Job Cost
Shows the breakdown of the expenditures incurred for the scheduled tasks so far by the cost type:
- Place your mouse on a sector to view the cost incurred under that cost type for all tasks cumulatively.
Change Order Job Cost
Shows the breakdown of the expenditures incurred for the work executed based on change orders by the cost type
- Place your mouse on a sector to view the cost incurred under that cost type for all tasks cumulatively.
Budget
The donut charts in the 'Budget' card show the breakdown of the original bid and the total cost up to date and provide at-a-glance details of the overheads and profits.
- Place your mouse on a sector to view more details.
Tasks & Days
- Shows a summary of tasks accomplished and pending:
Tasks
- Completed - Number of tasks finished
- Unscheduled - Number of tasks in the project schedule that are yet to be assigned to the field
- In-Progress - Number of tasks currently under execution
- Scheduled - Number of tasks in the project schedule that are assigned to the foreman
Days
- Actual - The sum of effort hours spent on all completed tasks
- Estimate - The sum of estimated effort hours of all completed tasks
Schedule Performance Index
- SPI- Indicates how the project progresses concerning the planned schedule. SPI is the ratio of BCWP and BCWS (Budgeted cost of Work Scheduled).
- SPI is less than 1 - The project runs behind the schedule
- SPI is greater than 1 - The project runs ahead of the schedule
- SPI is equal to 1 - The project is on schedule
- Schedule variance (SV)- Indicates whether the project is ahead of or behind schedule. It is the difference between the actual work completed and the scheduled work. SV is calculated by subtracting the total budgeted cost of work performed (BCWP) from the total budgeted cost of work scheduled (BCWS) at any point in time. The BCWP and BCWS values are calculated from the estimated cost values of the tasks completed and the tasks scheduled to be completed at that point in time.
- SV is less than 0 - The project runs behind the schedule
- SV is greater than 0 - The project runs ahead of the schedule
- SV is equal to 0 - The project is on schedule
- Schedule variance percentage - The percentage of SV with respect to BCWS
Cost Performance Index
- CPI - Indicates the cost efficiency of the project. CPI is the ratio of BCWP and ACWP.
- CPI is less than 1 - The project runs over budget
- CPI is greater than 1 - The project runs under budget
- CPI is equal to 1 - The project is on budget
- Cost variance (CV)- Indicates whether the project is running under budget or over budget at any point in time during the progress. It is the difference between the budgeted cost of work performed (BCWP) and the actual cost of work performed (ACWP). CV is calculated by subtracting the ACWP from the BCWP.
- CV is less than 0 - The project runs over budget
- CV is greater than 0 - The project runs under budget
- CV is equal to 0 - The project is on budget
- Cost variance percentage - The percentage of CV with respect to BCWP
Change Order
- Shows a summary of change orders and their impact:
- Approved- The number of approved change orders and their effect on the project budget and schedule.
- Pending- The number of change orders waiting for approval and their prospective effect on the project budget and schedule.
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