Hi BBN --
The Actual Cost of a task is calculated based on the following formula:
Actual Cost = Actual Work * Resource Rate
So, for example, if a resource has performed 20 hours of work on a
task, and their resource rate is $30/hr, then the Actual Cost = 20hrs
Actual Work * $30/hr = $600. If the resource works another 10 hours on
the same task, then this adds another 10hrs * $30/hr = $300 to the
Actual Cost for the task, bringing the grand total up to $900.
If more than one resource is working on the same task, then the same
formula applies to each resource:
Jack (20 hours, $30/hr rate): Actual Cost = 20hrs * $30/hr = $600
Jill (25 hours, $40/hr rate): Actual Cost = 25hrs * $40/hr = $1000
Total Actual Cost for the task = $600 + $1000 = $1600
As far as % completion, there are a couple of different types... %
Complete and % Work Complete. Although it's not indicated by the name,
% Complete is really % Duration Complete, and indicates the ratio of a
task's planned duration that has passed. % Work Complete is the ratio
of a task's planned work that has been performed. Here are the
formulae:
% (duration) Complete = Actual Duration / Duration (planned)
% Work Complete = Actual Work / Work (planned)
These two values can sometimes be the same... but not necessarily. If
the work is being performed at a steady planned rate throughout the
duration of a task, then they will match. However, if the rate of work
is not the same as the rate of duration, then they will not. An example
of this would be if you are scheduled to work on a week-long task, but
you do half of the work on Monday and the other half on Friday. When
Monday is over, you've completed 50% of the work (% Work Complete =
50), but only 20% of the duration (% Complete = 20).
If more than one resource is working on the same task, then the same %
Work Complete formula applies to each resource, and an overall % Work
Complete is calculated for the task, based on the individual work
contribution of each resource.
I'm not sure if this answers your question, but hopefully it sheds some
light on the relationship between % Complete, % Work Complete, and
Actual Cost.
Good luck!
Tony Zink
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