PPM Cost Items
Cost items are tracked costs related to ongoing Project expenses.
Cost items may or may not directly tie to a budget item. If a cost item does match a budget item (type and cost type) the cost will be tracked against that budget item. Once you enter the cost items, you can refresh the budget items to see the changes. You can apply costs to a certain quarter of a budget so you can see run rates. All the cost items populate to the Cost section of the Project pane.
To create a PPM Cost Item:
- In the Cost Items tab of the form arrangement, select New Cost Entry.
- Enter details (example: Server) and choose a type.
- Choose a cost type option.
- Choose a budget.
This drop-down list populates with budget items that match the type and expense for the cost entry. If budget is empty, the type and capital expense/operational expense don't match an existing budget item. You can add a new budget item or change order, or the cost can be tracked without a budget item.
- Enter a total cost and select a quarter.
- Select Save.
Impact of Cost Items on Budget Items
If the cost exceeds the budgeted amount for the year, an alert appears by the budget item.
Cost Items with No Matching Budget Item
If a cost item doesn't have a matching budget item, it's highlighted with the hazard marking for potential Project management attention. A possible solution is to initiate a Change Order to request additional budget.