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Top Level Cost

In the Top Level Cost report, types of cost in a project life cycle includes:

  • Actual Cost: Costs that have been incurred for tasks, resources or assignments.
  • Remaining Cost: Difference between baseline cost and actual cost.
  • Cost: When the tasks are planned and the pay rates of resources in a project are settled, Edraw Project will calculate the scheduled cost of a task or a resource.
  • Baseline Cost: Rough estimate cost proposed by the project manager.
  • Cost Variance: Difference between the scheduled cost and baseline cost.

The following are formulas to calculate different types of cost:

  • Actual Cost = (Cost - Cost Per Use) * Progress + Cost Per Use
  • Remaining Cost = Cost - Actual Cost
  • Actual Cost = Actual Work*Standard Rate*Cost Per Use
top level cost