ZilicusPM

Understanding Cost & Budget dashboard

• You can see, the y-axis shows absolute number in respective currency
• The x-axis represents three categories viz. Budget, Estimated Cost, Actual Cost, Billing amount
• The bar “Budget” represents – the amount allocated/budgeted for a given project; it is the same number as entered by project owner
• “Estimated Cost” bar represents – estimated cost calculated based on *project schedule* – duration, efforts, resources assigned, resource rates. You will notice change in project duration that has resources assigned (with cost rate) changes estimated cost, similarly any change in resource cost will impact estimated project of project
• “Actual Cost” bar represents actual cost incurred in the project at a given moment. It is based on actual timesheet details entered by team members and those approved, expenses submitted and approved, fixed cost incurred on prorate basis. All actual expenses at task level are aggregated and that aggregated number represents this bar
• The next bar Billing represent billability of the project at a given point. It is calculated based on the timesheet details entered and approved by project team members.