Job Cost metrics for a project help you track and compare the actual product and labor costs incurred for a project with the budgeted product and labor costs as in the proposal.
To view a project's job cost metrics, go to the Project Details view and click the "Job Costing" tab.
You will see widgets and a table with the job cost metrics. By selecting the "Phase" or "Labor" option at the top-right corner, you can view all job cost metrics by the phase or labor type involved in the project.
Job Cost widgets
You will see some widgets displaying job cost metrics. Here is a screenshot of the widgets with the job cost metrics of a project that is nearing completion.
The following is the description of the data displayed in the widgets.
Revenue earned
The percentage of revenue earned from the total cost of the project.
Project completion
The project completion percentage by product and labor.
Product installation status should be "Installed" for products to be counted toward completion.
Time entries should be added against the events scheduled for installation tasks for labor to be counted toward completion.
Backlog
The percentage of revenue is to be earned from the total cost of the project.
Product cost variance
You will be able to see product cost variance in percentages for all phases of the project.
Product Cost Variance ($) = Budgeted Product Cost - Actual Product Cost
Product Cost Variance (%) = (Budgeted Product Cost / Actual Product Cost) * 100
Labor cost variance
You will be able to see labor cost variance in percentages for all phases of the project.
Labor Cost Variance ($) = Budgeted Labor Cost - Actual Labor Cost
Labor Cost Variance (%) = (Budgeted Labor Cost / Actual Labor Cost) * 100
You can view this widget by "Dollars" or "Hours."
Job Cost table
You will see a table with some columns displaying job cost metrics. Here is a screenshot of the table with the job cost metrics of a project that is nearing completion.
The following is the description of the data displayed in the columns of the table.
Phase
The phases in the project.
% Complete
The overall completion percentage of the project phases.
Product installation status should be "Installed" for products to be counted toward completion.
Time entries should be added against the events scheduled for installation tasks for labor to be counted toward completion.
(Actual Product Cost + Actual Labor Cost) / (Budgeted Product Cost + Budgeted Labor Cost)
Total cost (Actual | Budgeted)
The actual and the budgeted cost of both the products and labor for the phase.
Product cost (Actual | Budgeted | Variance)
The actual and the budgeted costs of the products for the phase.
The product cost variance in dollars and percentage for the phase.
Product Cost Variance ($) = Budgeted Product Cost - Actual Product Cost
Product Cost Variance (%) = (Budgeted Product Cost / Actual Product Cost) * 100
Labor cost (Actual | Budgeted | Variance)
The actual and the budgeted cost of labor for the phase.
The labor cost variance in dollars and percentage for the phase.
Labor Cost Variance ($) = Budgeted Labor Cost - Actual Labor Cost
Labor Cost Variance (%) = (Budgeted Labor Cost / Actual Labor Cost) * 100
Labor hours (Actual | Budgeted)
The actual and the budgeted labor hours for the phase.
Labor hours remaining
The labor hours remaining in the phase of the project.
You will also see a sum total for all these metrics below the job cost table.
For all metrics, if the actual value exceeds the budgeted value, the text and the row for the relevant phase will be displayed in Red.