best way to compare estimate vs real

[Johnny Bravo]

Hey all,

I'm still relatively new to MS Proj 2007 so bear with me =/

I have entered a number of projects which I've been using for time planning
purposes and general review of estimated labor costs. We use Peachtree to
track actual costs (invoices, payroll, purchases...)

My question is this:
If we want to track those Peachtree costs in Project 2007, what way would
you recommend as the easiest / preferred?

Currently I compose a job ledger cost printout from Peachtree. Back out
some miscategorized numbers, and have my base cost (minus labor)> We use
ADP for payroll, but prefer to use Assumed cost numbers per employee
(example $20/hour for labor --includes overhead charge)

If we want to compare estimated cost for a phase, we look at Project and it
tells us $1000 (5 men x 10h/day @ $20/hr x 1 day = $1000)

When the job goes over: our time sheets have 2 days... we have a loss of
$1000 for that phase. That's a simplified version.

How do I go back to show that in Project?

Right now we just build an excel sleet and manually enter the numbers
showing over and underruns in Excell, but that seems like a waste no using
project to track the cost...

What would you suggest?

Should I change all our entered labor resources to budget items and enter
all the time sheets from peachtree into Project? (seems like a lot of work)

 

[Jim Aksel]

The challenge here is the granularity of the data in Peachtree is probably
not to the same level of detail as in MS Project. Generally, accounting
software has job numbers that things like "Software Development for
Capability X" while Project maintains 800 lines of schedule all dedicated to
Capability X.

In the past, we have added a single line item to the "Capability X" in MS
Project and called that Cost. We manually update that with cost numbers in
one of the resource or task tracking views so we can time phase the data.

From there, it seems like the standard Earned Value calculations in MS
Project can give you the variance calculations and projected estimates that
you request. You can read on that in the help. Project will gladly
calculate cost variances such as Cost of Work Scheduled minus Actual Cost.
There are columns in Project for these things. You will need to establish a
fully resource loaded (with costs) schedule, set a baseline, and take status
regularly after setting a status date.

There are much more robust solutions available in MS Project Server 2007
that allow time sheet tracking and all types of reports, etc.
--
If this post was helpful, please consider rating it.

Jim

Visit http://project.mvps.org/ for FAQs and more information
about Microsoft Project

 

[Johnny Bravo]

Thanks Jim

I know the question sounded a bit newbish asking "if" MS Project could do
it. I know it can, which is why my boss purchased it. What he didn't know
was how to setup our system in Project so we reduce effort to manage /track
costing.

Our primary goal was estimate analysis and time / resource planning when we
obtained project. Now that we have it and have started with the basics, I'm
trying to use it for more of what we do, and all advice is greatly
appreciated. I know there are a lot of power users and MSP's here so any
suggestions or comments from people reading the thread are also appreciated.

Is there a best reference area to read up on how to do that add material
task suggestion you made, or is that a custom solution?