Cost and Funds Overview

The Cost and Funds app enables cost engineers and project managers to capture project budgets and to track, manage, and report on project costs and funds.

On the Cost Sheet, you can use a Cost Breakdown Structure (CBS) to track, manage, and report costs related to a project. The app enables you to create a custom CBS at the workspace and project levels. Costs rolled up to the workspace level and project level are visible from their respective cost sheets. The summary cost sheet at the workspace or program level provides an overview of cost data for all projects within the workspace or program.

A Cash Flow feature is available to plan and manage the high-level costs associated with projects and programs, collaborate on budget allocations, and take snapshots of data to review progress over time. For projects, this feature is generally used when projects are included in portfolios for budget planning.

Use the Project Funds Page to manage all sources of funding for your projects. It helps you keep track of where money to complete projects comes from, plan how that money should be used, and monitor how it's actually used.

Budgets help you track the total estimated cost required to complete a project. Before a project starts, the cost engineer, along with the project manager, determine scope and budget requirements, and set these estimates at the project level. As requirements change, resource and financial support are adjusted to compensate for the changes. The team members involved in project planning, funding, and financial support can estimate budgets from the bottom up using the manual budget, and they can log changes to the budget at any time from as early as the project planning stage to after the project is underway.

The Actuals feature is used to track pending and confirmed spending for work delivered on a project. Use a combination of manual and scope-based actuals to suit your project needs. You can also assign funds to actuals to show how funds are consumed.