Setting actual costs in MS Project Pro

Contents:

1. Setting active costs in the task usage view in MS Project Pro
2. Setting active costs in the resource usage view in MS Project Pro
3. Updating budget in MS Project Pro
4. Chat

Setting active costs in the task usage view in MS Project Pro

To close the current implementation period, you need to close the execution of the task and set the actual costs. MS Project Pro sets the actual cost when setting the fact that tasks are completed. But you need to specify actual tasks for tasks for the period,

Steps to set active costs in the task usage view in MS Project Pro:

1. Open the task usage view.
2. Add columns: "Cost", "Basline Cost", "Cost Variance", "Actual Cost" and "Remaning Cost".
3. Click the "Task Usage Format" item in the top menu.
4. Clck the "Add Details" button in the "Details" block.
5. Add fields: "Basline Cost", "Cost" and "Actual Cost"
6. Set the time period. We recommend setting the time period to a month. (Read more "Timescale in MS Project Pro")
7. Check the actual cost in the period and adjust if necessary in the "Actual Cost" field.
8. Compare the actual and planned costs for the closing period, they must be the same.

Set active costs in the resource usage view in MS Project Pro

You can set the actual costs on tasks per period for each resource separately.

Steps to set active costs in the task usage view in MS Project Pro:

1. Open the resource usage view.
2. Add columns: "Cost", "Basline Cost", "Cost Variance", "Actual Cost" and "Remaning Cost".
3. Click the "Resource Usage Format" item in the top menu.
4. Clck the "Add Details" button in the "Details" block.
5. Add fields: "Basline Cost", "Cost" and "Actual Cost"
6. Set the time period. We recommend setting the time period to a month. (Read more "Timescale in MS Project Pro")
7. Check the actual cost in the period and adjust if necessary in the "Actual Cost" field. 
8. Compare the actual and planned costs for the closing period, they must be the same.

Updating the budget in MS Project Pro

After setting the actual costs, you must refine the budget for the period.If the amount spent is more than the planned budget, then you must take part of the budget funds from the future period. If the amount spent is less than the planned budget, then you must reallocate the remaining part of the budget funds for future periods.

Steps to update the budget in MS Project Pro:

1. Open the task usage view.
2. Add columns: "Basline Budget Cost", "Budget Cost", "Cost", "Basline Cost", "Cost Variance", "Actual Cost" and "Remaning Cost".
3. Click the "Task Usage Format" item in the top menu.
4. Clck the "Add Details" button in the "Details" block.
5. Add fields: "Basline Budget Cost", "Budget Cost", "Basline Cost", "Cost" and "Actual Cost"
6. Set the time period. We recommend setting the time period to a month. (Read more "Timescale in MS Project Pro")
7. Check the actual cost in the period and adjust if necessary.
8. Compare the budgeted and actual costs for the closing period, they must match. If they do not match, copy the actual costs to the budgeted.
9. If the base budget does not match the current budget, adjust its amounts for future periods.