Calulating fixed costs

[Hunter]

Help!!!
Task Fixed Cost $2,730.00
Resource1
Resource2
Resource3
I have a task with a fixed cost. I have 3 resources assigned. I want to
track the actual hours of the resources but not their costs. When the task
is completed, we will pay 70% of the fixed cost now and 30% when the project
is completed. How do I do this. Project wants to put the $ towards the
resouces. If I manually add $1911 (70%) the remaining cost does not reflect
the 30% left. Can project do this?
Any help would be greatly appreciated.

Thanks,
Hunter

 

[Mike Glen]

Hi Hunter,

Welcome to this Microsoft Project newsgroup

I would create a milestone FS to the end of project milestone. Put 70% of
the cost on the task to be paid at the end of the task and the remaining 30%
on the milestone.

FAQs, companion products and other useful Project information can be seen at
this web address: http://project.mvps.org/faqs.htm

Hope this helps - please let us know how you get on

Mike Glen
MS Project MVP
See http://tinyurl.com/2xbhc for Project Tutorials

 

[Hunter]

Mike,

I have 95 fixed cost tasks for this large project. Should I create a
milestone for each tasks with fixed costs? Even though I do not have rates
assigned to the resources, project wants to distribute the fixed costs to
them. I want to monitor the hours but I want the cost to stay fixed to the
task.

Thanks,
Hunter

 

[Mike Glen]

Hi Hunter,

Where are you entering the Fixed Costs? View/Table/Costs will give you a
column for Fixed Cost - that's where you enter the fixed cost for each task.
Fixed Cost Accrual column lets to accrue at the end. These costs are not
associated in any way with the resources. You could have 95 milestones, but
why not sum the remaining cost and enter it as one figure?

Mike Glen
Project MVP

 

[Hunter]

I entered the fixed costs in that view. The problem is entering the actuals.
I am unable to enter actual amounts.

Thanks

 

[Mike Glen]

Just overwrite the Fixed Cost figures with the actuals.

Mike Glen
Project MVP

 

[Hunter]

Mike,
I must be doing something really wrong.
1. I created a task as a milestone (it is a deliverable) with a fixed cost.
2. Where do I go to enter actual cost. In this case, I am paying 70% of
fixed cost.
3. When I have been able to enter actuals, the remaining cost (30%) is not
reflected.
This is a large project with over 600 tasks and there are a number of
deliverable (payment) points which are different amounts depending on the
tasks.

Does anything I am saying help you understand where I am with this project.

Thanks,
Hunter

 

[Mike Glen]

Hi Hunter,

Correct me if I'm wrong but I understood you to say that you weren't
interested in tracking resources costs. The Actual Cost field is where you
enter the cost of what the resource has done, so forget that field. I was
talking about using the Fixed Cost field. Enter 70% of the actual cost
there, and
accumulate the remaining 30% in a final milestone along with all the others
(you'll have to do the arithmetic - perhaps keep a running total in Excel?).

Does that help?


Mike Glen
Project MVP