Amacom - Modern Project Management (Ocr) - 2001 ! - (By Laxxuss)

A form like the one shown in figure 2 15 should

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Unformatted text preview: package. You will need a different Page 49 Figure 2-12. Cost code descriptions for the example project. entry/edit tool to do this. The cost estimates for a work package are indexed by the Cost Account identifiers (in this case GL codes), as shown in Figure 2-14. Notice that a given work package, say the "Concrete" work package, can have several cost accounts associated with it. Cost accounts 601 and 603 are different labor accounts, whereas accounts 631 and 632 are different materials cost accounts. The cost estimates from Figure 2-14 are entered using the Cost Accounts Entry/Edit tool. To select this tool, click on the Cost Accounts Entry/Edit button on the Main Menu. A form like the one shown in Figure 2-15 should appear. You will notice that there are four fields that can be entered into this form, but there are only three categories of information in Figure 2-14. The additional field, Open Commitments, has not yet been explained. We will do that now, but for the model project there will be no open commitment data. Open commitments are binding commitments to expend funds. For instance, when you place certain orders for materials, you may be required to sign a contract prior to shipment. TE AM FL Y Figure 2-13. The Cost Code Entry Form. Team-Fly® Page 50 Figure 2-14. Cost estimates for the example project. Once the commitment is made the funds are "as good as spent," even if no invoice has yet been paid for the materials. The open commitment field is simply a place to record commitment information temporarily so that it will show up on reports, until the actual cost transaction has been entered, at which time the commitment needs to be removed. In this book we assume that the entry and removal of commitment information are done manually using the Cost Accounts Entry/Edit form (see Figure 2 -15). You should enter the cost (budget) data for these work packages now. Once the cost estimates have been entered for each work package, you can try out the budget reports provided with the toolset. 2.5.2— Budget Reports The Budgeted Cost Listing report (Figure 2-16) displays the cost estimates for each control package. This is the report that proj - Page 51 Figure 2-15. Cost Accounts Entry/Edit form. ect management uses to communicate the original cost estimate to the client. After this original cost estimate is approved by the client and by general management, it becomes known as the Original Cost Budget . The Budgeted Cost Listing report can be displayed by clicking the Budgeted Cost Listing button on the Main Menu. Similarly, the Budgeted Quantity and Man-Hour Listing report (Figure 2-17) can be produced to obtain the labor-hour estimates for each control package above the work package level. This is the report that the project manager uses to communicate the original labor-hour budget to general management and perhaps to the client. After this original labor-hour estimate is approved, it becomes known as the Original Man-Hour Budget . The Budgeted Quantity and Man-Hour Listing report can b...
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This note was uploaded on 01/11/2011 for the course ACC 9 taught by Professor Yeetan during the Spring '10 term at Sunway University College.

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