Remaining Cost fields

The Remaining Cost fields show the remaining scheduled expense that will be incurred in completing the remaining scheduled work.

There are several categories of Remaining Cost fields.

Data Type    Currency

Remaining Cost (task field)

Entry Type    Calculated

How Calculated    When you first create a task, the Remaining Cost field is the same as the Cost field. Once the assigned resources begin work on the task and report actual work, Microsoft Office Project calculates the remaining cost as follows:

Remaining Cost = (Remaining Work * Standard Rate) + Remaining Overtime Cost

Best Uses    Add the Remaining Cost field to a task sheet to review how much is yet to be spent for a task.

Example    The "Develop estimate" task is assigned to Sean and Jamie for five hours of work each. Their standard rates are both $20 per hour. At the start of the task, the remaining cost is $200. When the resources report two hours of actual work ($40), the remaining work is eight hours, and the remaining cost becomes $160.

Remaining Cost (resource field)

Entry Type    Calculated

How Calculated    When you first add a resource, the Remaining Cost field is the same as the Cost field. Once the resource begins reporting actual work on tasks, Microsoft Office Project calculates the remaining cost as follows:

Remaining Cost = (Remaining Work * Standard Rate) + Remaining Overtime Cost

Best Uses    Add the Remaining Cost field to a resource sheet to review how much is yet to be spent for a resource. This applies to all work assigned to the resource for all assigned tasks.

Example    You're tracking costs for a resource with a rate of $20 per hour. The resource is assigned to many different tasks throughout the duration of the project, which together will take 100 hours. Before the resource has begun reporting actual work, the remaining cost for all tasks assigned to the resource is $2,000. Then the resource reports 3 hours of work on one task and 7 hours of work on another task for 10 hours of actual work, or $200 of actual cost. The remaining cost changes from $2,000 to $1,800.

Remaining Cost (assignment field)

Entry Type    Calculated

How Calculated    When an assignment is first made, the Remaining Cost field is the same as the Cost field. After the resource begins work on the assignment and reports actual work, Microsoft Office Project calculates the remaining cost as follows:

Remaining Cost = (Remaining Work * Standard Rate) + Remaining Overtime Cost

Best Uses    Add the Remaining Cost field to the timephased portion of the Task Usage or Resource Usage view to review how much is yet to be spent for an assignment.

Example    An assignment consists of 10 hours for a resource with a rate of $20 per hour. At the start of the assignment, the remaining cost is $200. When the resource reports two hours of actual work ($40), the remaining work is eight hours, and the remaining cost becomes $160.