Portfolio: Cost Summary Column Definitions
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| Budget ID | The unique ID assigned to a Portfolio level cost. IDs cannot be duplicated within the same portfolio. This ensures all costs are logged and tracked systematically. | |||||||||||||
| Budget Items | List of all projects and portfolio costs associated with the portfolio. | |||||||||||||
| Portfolio | Portfolio name which individual projects or subportfolios are assigned to. | |||||||||||||
| Project Stage | Identifies current stage/phase of the projects within the portfolio. Not applicable (NA) will display if the item relates to a portfolio only. | |||||||||||||
| Currency | The currency that the Portfolio or Project Financials will be based on | |||||||||||||
| Baseline Budget (A) | The initial, approved and allocated estimate of a project's costs, used as a benchmark to track and compare actual spending. | |||||||||||||
| Approved Scope Changes (B1) | Any approved change requests to the original baseline budget; an adjustment to the project's budget that is formally agreed upon to accommodate changes in the project's scope, or cost constraints. | |||||||||||||
| Approved Contigency Changes (B2) | Any approved change requests to cover unforeseen costs, allowing for necessary changes in a project without derailing the entire budget. | |||||||||||||
| Current Budget C=(A+B1+B2) | The current revised budget comprised of the original baseline budget plus approved changes to the budget. | |||||||||||||
| Baseline Period | Baseline costs as per the reporting period. | |||||||||||||
| Baseline To Date | Baseline costs from project start up to the reporting period. | |||||||||||||
| Actual Period | Actual expenditure for the reporting period. | |||||||||||||
| Actual To Date (D) | Actual expenditure from project start up to the reporting period. | |||||||||||||
| ETC (E) | The total predicted cost to complete the remaining work, from the current point until the project's conclusion. This includes the forecast costs of current and future periods. | |||||||||||||
| Forecast Final Cost - Current F=(D+E) | Total forecast expenditure based on total actual expenditure to date plus estimated expenditure (forecast) to complete remaining work. | |||||||||||||
| Variance At Completion (C - F) | The projected cost difference at completion between the current budget and the current forecast final cost. Identifies variances that may require corrective measures to be implemented. | |||||||||||||
| Percentage Variance At Completion ((C - F) / C) * 100 | This calculates the forecasted over or under-run of a project's total budget, expressed as a percentage. | |||||||||||||