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Average Costs of Tasks

Average Costs of Tasks
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Average Costs of Tasks

    Average costs of tasks is a key performance indicator that shows the expenses amount calculated by dividing the total cost of tasks by the number of tasks. Average costs of tasks include task fixed cost, i.e. set task expenses that always remain unchanged over the task or project lifecycle and the costs that depend on the resource performance. This KPI helps to estimate if the company expenses are under or over the budget. 

    If you need to calculate average costs of tasks, please do the following:

  1. Depending on your company needs you may track the following types of costs of tasks:
    • Actual Cost – VIP Task Manager Professional can automatically calculate actual cost by the formula:

    Actual Cost = (Actual Work * Standard Rate) + (Actual Overtime Work * Overtime Rate) + Resource per Use Costs + Task Fixed Cost

    • Cost can be automatically calculated by the  formula:

    Cost = Actual Cost + Remaining Cost

    • Costs – the values of this custom field are arbitrary and are entered manually:

    - Go to: Tools/Custom fields and press "Ins" button

    - In "Title" field enter "Costs"

    - in "Code" field enter "cf_costs"

    In "Type" field select "Currency" and click "Ok" button

    To display the value of custom fields "Costs" on Task List or Task Tree please go to Task List or Task Tree, Task List Columns or Task Tree Columns button   and check the custom field "Costs".

  1. Set footer to display the average costs for a given project or to-do list:
  • right click under column "Actual Cost", "Cost" or "Costs"
  • select "Average"

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