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How to measure job/project progresses, when the price of units depends on time spent on producing the unit or is fixed and to measure effectiveness by comparing estimated and actual time spent on producing the unit.

How to measure job/project progresses, when the price of units depends on time spent on producing the unit or is fixed and to measure effectiveness by comparing estimated and actual time spent on producing the unit.
   
Home  » Support  » Frequently Asked Questions (FAQ)  » How to measure job/project progresses, when the price of units depends on time spent on producing the unit or is fixed and to measure effectiveness by comparing estimated and actual time spent on producing the unit.

To measure job/project progresses, when the price of units depends on time spent on producing the unit or is fixed, and to measure effectiveness by comparing estimated and actual time spent on producing the unit, please, do the following steps:

  1. Create task group, for example ‘Project Template'
  2. Create tasks within task group ‘Project Template'
  3. Go to menu ‘Tools' and select ‘Custom fields…'
  4. Click on ‘New' button in ‘Edit custom fields' window
  5. Enter ‘Estimated time' into ‘Title' field in ‘Edit custom field' window
  6. Select ‘Duration' from ‘Type' drop-down list and click on ‘Ok' button
  7. In the same way create ‘Actual time' field
  8. Click on ‘New' button in ‘Edit custom fields' window
  9. Enter ‘Cost per Hour' into ‘Title' field in ‘Edit custom field' window
  10. Select ‘Currency' from ‘Type' drop-down list and click on ‘Ok' button
  11. In the same way create ‘Price per Hour' field
  12. Click on ‘New' button in ‘Edit custom fields' window
  13. Enter ‘Actual Cost' into ‘Title' field in ‘Edit custom field' window
  14. Select ‘Currency' from ‘Type' drop-down list
  15. Enter the following formula into ‘Formula:' entry field and click on ‘Ok' button
  16. ($cf_actual_time*$cf_cost_per_hour)*24

  17. Click on ‘New' button, enter ‘Estimated Cost' into ‘Title' field, select ‘Currency' from ‘Type' drop-down list, enter the following formula into ‘Formula:' entry field and click on ‘Ok' button
  18. ($cf_estimated_time*$cf_cost_per_hour)*24

  19. Click on ‘New' button in ‘Edit custom fields' window
  20. Enter ‘Price per Hour' into ‘Title' field in ‘Edit custom field' window
  21. Select ‘Currency' from ‘Type' drop-down list and click on ‘Ok' button
  22. Click on ‘New' button in ‘Edit custom fields' window
  23. Enter ‘Price' into ‘Title' field in ‘Edit custom field' window
  24. Select ‘Currency' from ‘Type' drop-down list
  25. Enter the following formula into ‘Formula:' entry field and click on ‘Ok' button
  26. ($cf_estimated_time*$cf_price_per_hour)*24

  27. Click on ‘New' button in ‘Edit custom fields' window
  28. Enter ‘Profit' into ‘Title' field in ‘Edit custom field' window
  29. Select ‘Currency' from ‘Type' drop-down list
  30. Enter the following formula into ‘Formula' entry field and click on ‘Ok' button
  31. $cf_estimated_price-$cf_actual_cost

  32. Click on ‘New' button in ‘Edit custom fields' window
  33. Enter ‘Bonus' into ‘Title' field in ‘Edit custom field' window
  34. Select ‘Currency' from ‘Type' drop-down list
  35. Enter the following formula into ‘Formula' entry field and click on ‘Ok' button
  36. $cf_estimated_cost-$cf_actual_cost

  37. Click on "ok' button in ‘Edit custom fields' window
  38. Go to main menu command [View -> Columns -> Task Tree Columns] and activate options ‘Estimated Time', ‘Actual Time', ‘Cost per Hour', ‘Price per Hour', ‘Estimated Cost', ‘Price', ‘Actual Cost', ‘Profit' and ‘Bonus'
  39. Go to Task Tree view
  40. Right click on ‘Project Template' task group and select ‘Custom fields options' from drop-down list
  41. Select ‘Estimated Time' in ‘Edit custom fields options for ‘Project Template' window
  42. Select ‘Subgroups&tasks' from ‘Setting for:' drop-down list
  43. Select ‘Enable' from ‘Field: Estimated Time' drop-down list
  44. Check ‘Aggregated (for taskgroup)' option, select ‘Sum' and ‘Estimated Time' from the drop-down lists below
  45. Select ‘Actual Time', ‘Subgroups&tasks' from ‘Settings for:' drop-down list, ‘Enable' from ‘Field: Actual Time' drop-down list, check ‘Aggregated (for taskgroup)' option, select ‘Sum' and ‘Actual Time' from the drop-down lists below
  46. Repeat the similar actions for ‘Cost pre Hour', ‘Price per Hour', ‘Estimated Cost', ‘Price', ‘Actual Cost', ‘Profit' and ‘Bonus' custom fields and click on ‘Ok' button
  47. Enter the values of task ‘Estimated Time', ‘Actual Time', ‘Cost per Hour' and ‘Price per Hour' fields

If you want to compare actual cost and price, you can make graphical report by following the steps below:

  1. Go to main menu command [View -> Panels -> Charts]
  2. Go to Task List view
  3. Go to main menu command [View -> Panels ->Task List - Groups]
  4. Highlight ‘Project Template' task group on Task Groups panel
  5. Go to Charts panel and select ‘Actual Cost' and ‘Price' from drop-down lists on Charts toolbar
  6. Select ‘Column diagram' from drop-down list on Charts toolbar
  7.  

  8. To compare Estimated and Actual Time per task select ‘Estimated Time' and ‘Actual Time' from drop-down lists on Charts toolbar
  9. To compare Estimated and Actual Time per assigned employee group the tasks in Task List grid by ‘Assigned' column
  10. To compare Profit each employee makes and bonus he can get select ‘Profit' and ‘Bonus' from drop-down lists on Charts toolbar


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