You can use cost codes to budget and track cost in a project. A cost code represents a fixed activity or cost category.
You can use:
A cost code is always linked to a cost code standard. To each project quotation and related projects, one cost code standard can be linked. You can do so on the project quotation work breakdown structure root node. In a project quotation and the related projects, you can only use cost codes of the linked cost code standard.
Cost code standards are, for example, provided by these organizations:
You can group cost codes for reporting and analysis purposes.
Name | Responsible | Description |
---|---|---|
Define cost code setup on project level |
Project manager |
If you use cost codes in your project quotations, you need to define the applicable cost code standard and cost code level. The default cost code standard and default cost code level are defined in the Advance project management parameters. You can change these defaults on a project quotation work breakdown structure. |
Define cost code on WBS line |
Project manager |
If you have defined a cost code standard and cost code level for a project quotation, you can define a cost code for each WBS line. |
Define cost code on estimated costs and revenue |
Project manager |
If you have defined a cost code standard and cost code level for a project quotation, you can define a cost code for each WBS line. If the cost code level is Transaction, you can also define a cost code for each estimated-costs-and-revenue line. So, estimated-costs-and-revenue lines of one WBS line can have different cost codes. |
Review cost value, bid value, and margin by cost code |
Project manager |
If you use cost codes, for each project quotation, you can review the cost value, bid value, and margin by cost code. |
Name | Responsible | Description |
---|---|---|
Define cost code setup on project level |
Project manager |
If you use cost codes in your project quotations, you need to define the applicable cost code standard and cost code level. The default cost code standard and default cost code level are defined in the Advance project management parameters. You can change these defaults on a project quotation work breakdown structure. |
Define cost code on WBS line |
Project manager |
If you have defined a cost code standard and cost code level for a project quotation, you can define a cost code for each WBS line. |
Define cost code on estimated costs and revenue |
Project manager |
If you have defined a cost code standard and cost code level for a project quotation, you can define a cost code for each WBS line. If the cost code level is Transaction, you can also define a cost code for each estimated-costs-and-revenue line. So, estimated-costs-and-revenue lines of one WBS line can have different cost codes. |
Review cost value, bid value, and margin by cost code |
Project manager |
If you use cost codes, for each project quotation, you can review the cost value, bid value, and margin by cost code. |
Related to | Notes |
---|---|
Use cost codes in work breakdown structure |
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