Cost Worksheet 101

Steve KellyPresident / Consultant

Pro Management Systems, Inc. (USA)BluESP Management Systems (Pty) Ltd (South Africa)

stevek@promanagementsystems.comnID #84770

• Who am I• Who are you• Basic Information

– Ask Questions– Don’t leave– Ask more questions– If you leave…..

Introductions

Typical reactions to the Cost Worksheet...

• What is it?• Why should I use it?• What does it tell me?• It looks complicated.• My Accounting systems tells me the costs.• I’m an executive, this is a lot of detail.• Bla bla bla

Details of the Cost Worksheet

• Categories (there are 4+)• Cost Codes• Original vs Pending vs Procured vs

Committed vs Actual vs ???

BUDGETCost Code

Original Budget

Approved Revisions

Pending Budget

RevisionsCurrent Budget

Adjust-ments

Estimated Budget

RevisionsProjected Budget

Con

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C (

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HISTORY

COMMITMENTCost Code

Original Contracts

Approved Revisions

Pending Contract

RevisionsCurrent

ContractsAdjust-ments

Estimated Contract

Revisions

Projected Contracts

EACC

ontr

act

App

rove

d C

hang

e O

rder

s

Rev

ised

Con

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t A

mou

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Ow

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NO

C (

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For

ecas

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Tre

nd

Pen

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HISTORY

Advanced Cost Worksheet

• Trends• Forecasting• Seeing potential cost overruns• Manage Contingency• Roll up reporting• Multi-Project (executive) reporting