Budgeting using P6

Hi Simon,

If I understood you correctly, you want the budget cost of each activity to be deducted to the total project cost the moment it is 100% completed? Correct me if I am wrong. Can you elaborate further.

Regards,

Arnold

Hi Arnold,

Yes that is correct. I would like to be able to see what budget remains at any particular stage of the project. Is this possible?

Regards,

Simon

Hi Simon,

With P6, you can monitor the Remaining Cost when your activity is Completed or In-Progress. Just make sure in the Resource Details, tick the “Auto Compute Actuals” & “Calculate Cost from Units”. And in Project Details --> Calculation tab, tick "Recalculate Actual Units and Cost when duration % complete changes".

If you are using Expenses, just update the actual cost depending on the %age completed.

I am not sure if this will answer your query.

Regards,

Arnold

Hi Arnold,

Thank you that does help.

At some stages in the project we will be receiving money from our client, this will be done at the completion of certain activities. Is there a way of entering in money received from a completed activity? I have attempting putting it in as a negative figure but this does not seem to work.

Any adivce?

Cheers

Simon

Hi Simon,

You can enter any amount depends on the work completed or paid by the Client. If you have allocated Cost to a certain activity you can then update the actual cost.

However, if you attempt to enter a negative value it means that you are not gaining but losing. The "At Completion Cost" will be having a variance against your "Budgeted Cost". Because, At Completion Cost = Actual Cost + Remaining Cost.

Try to experiment using Expenses.

Regards,

Arnold