Project Variance

Form ID: (PM651020)

Attention: This generic inquiry form is available if the Extended Financial Data Collection feature is enabled on the Enable/Disable Features (CS100000) form.

On this form, you can view where and why the project is over or under budget, schedule, or scope—and compare budgeted or scheduled values with actual values.

Form Toolbar

The form toolbar has only standard buttons.

Selection Area

In this area, you select the project whose data you want to view in the table and the date through which data is calculated.

Element Description
Project The project for which you want to view variance data.
Date Through The date as of which data is displayed. By default, the system inserts the current business date.

Table

In the table, you can see how quantities and unit rates influence project cost and revenue variances. This information is presented as of the selected date, including for projects with incomplete tasks. Each row represents a cost or revenue budget line of the project.

Attention:
  • The leftmost columns of the table aren't described in this topic. These columns display the project task's basic information—such as description, completion percentage, status, and start and end dates. They also show the revenue task, inventory item, and cost code. If you need information about these UI elements, see their descriptions on the Projects (PM301000) form.
  • This topic also doesn’t cover the separate column sets for account groups used to record expenses—labor, material, subcontract, and equipment. Each expense type has the same set of columns. The system calculates their values similarly to the project expenses described below.

The table toolbar has only standard buttons.

Table 1. Table ColumnsThe columns below contain values you can compare to see the difference between the budgeted and actual values. Column colors make revenue and expenses easy to spot:
  • Blue: Revenue
  • Green: Expenses
  • Yellow: Labor expenses
  • Orange: Material expenses
  • Red: Subcontract expenses
  • Purple: Equipment expenses
Column Description
Revised Contract Quantity The revised budgeted quantity for this revenue budget line of the project. This reflects the quantity on the Revenue Budget tab of the Projects (PM301000) form as of the selected date.
Revised Contract Amount The revised budgeted amount for this revenue budget line of the project. This reflects the amount on the Revenue Budget tab of the Projects (PM301000) form as of the selected date.
Billed Quantity to Date The total quantity of all project transactions for this revenue budget line as of the selected date. The account group of these project transactions has a type other than Expense or Off-Balance.
Completed Contract (%) The completed percentage from the project's revenue budget line as of the current business date.
Billed Amount to Date The total amount of all project transactions for this revenue budget line as of the selected date. The account group of these project transactions has a type other than Expense or Off-Balance.
Billed Variance Amount The billed variance amount of the project's cost budget line as of the selected date, which the system calculates by using this formula: Revised Contract Amount - Billed Amount to Date.
Billed Variance Amount by Quantity The billed variance amount by quantity of the project's cost budget line as of the selected date, which the system calculates by using this formula: (Revised Contract Quantity - Billed Quantity to Date) * Revised Contract Amount / Revised Contract Quantity.

If the Revised Contract Quantity is 0, the Billed Variance Amount by Quantity is also 0.
Billed Variance Amount by Unit Rate The billed variance amount by unit rate of the project's cost budget line as of the selected date, which the system calculates by using this formula: Billed Variance Amount - Billed Variance Amount by Quantity.
Revised Budgeted Cost (Quantity) The total of all revised budgeted quantities for this cost budget line of the project. This reflects the quantity on the Cost Budget tab of the Projects (PM301000) form as of the selected date.
Revised Budgeted Cost (Amount) The total of all revised budgeted amounts for this cost budget line of the project. This reflects the amount on the Cost Budget tab of the Projects (PM301000) form as of the selected date.
Actual Total Cost (Quantity to Date) The total quantity of all cost transactions with the item in the project's cost budget line as of the selected date.
Total Completed Cost Quantity (%) The cost completion percentage by quantity of the project's cost budget line as of the selected date. The system calculates the percentage by using this formula: Actual Total Cost (Quantity to Date) / Revised Budgeted Cost (Quantity).

If the Revised Budgeted Cost (Quantity) is 0, this column is empty.
Actual Total Cost (Amount to Date) The total amount of all cost transactions for the project's cost budget line as of the selected date.
Cost Variance Amount The variance amount of the project's cost budget line as of the selected date, which the system calculates by using this formula: Actual Total Cost (Amount to Date) - Revised Budgeted Cost (Amount).

A positive value means savings, and a negative value means overspending.
Cost Variance Amount by Quantity The variance amount of the project's cost budget line as of the selected date, which comes from the difference between the budgeted quantity and the actual quantity.

A positive value means savings, and a negative value means overspending.
Cost Variance Amount by Unit Rate The variance amount of the project's cost budget line as of the selected date, which comes from the difference between the budgeted unit rate and the actual unit rate.

A positive value means savings, and a negative value means overspending.