This Report is a powerful management tool, which on ONE SHEET OF PAPER (usually)
shows the performance of a Job in relation to its ESTIMATED COSTS and ACTUAL JOB
PERFORMANCE TO DATE.
Summaries of Estimated Amounts appear on the left and Actual Spent on the right.
In the columns at far right are the PERFORMANCE COMPUTATIONS. These are based
on the relationships between AMOUNTS ESTIMATED, AMOUNT SPENT and PERCENT
OF THE WORK THAT IS COMPLETE.
If you entered the SQUARE FEET of the Project when you added this Job to the Job Master
File, you will see the ESTIMATED COSTS PER SQUARE FOOT and ACTUAL COSTS PER
SQUARE FOOT.
Next is the PERCENT COMPLETE Column. This is COMPUTED based on the RATIO of
Estimated vs. Actual $'s spent. EXCEPT if the ACTUAL SPENT EXCEEDS the ESTIMATE.
In that case the Percent complete remains at 100% and the COST OVERRUN appears
as a MINUS AMOUNT in the PROFIT VARIANCE Column at far right.
On the Parameter Screen is a Menu Item at top left called Job Percentages. By Clicking
on this item you will bring up the EDIT UNITS and PERCENTS COMPLETE Entry Screen.
Here you can enter an ACTUAL TOTAL PERCENT COMPLETE for a LINE ITEM (Cost Code).
This capability turns this Report into a PROJECTED PROFIT TOOL, where Project Management
can take the FACTS of ESTIMATED and ACTUAL COSTS as they exist AT PRESENT, and add
THEIR JUDGEMENTS regarding Job Conditions, Job Performance and ACTUAL JOB PROGRESS.
By changing the Percent Complete from PERCENT OF ESTIMATE SPENT, to ACTUAL PERCENT
OF WORK COMPLETE, your ACTUAL PROFIT POSITION will be available in the far right column.
If Actual % Complete EXCEEDS % of Estimate Spent, then $'s of ADDITIONAL PROFIT will
appear in the PROFIT VARIANCE Column. If it is LESS, then a MINUS AMOUNT appears.
By entering your ESTIMATED PROFIT as the LAST LINE ITEM in the ESTIMATE, and marking it
as 100% COMPLETE on this report, the profit will be forced into the PROJECTED VARIANCE
column at far right as a POSITIVE AMOUNT.
This PROJECTED VARIANCE Column is totaled at the end of the Job, with PLUS and MINUS
VARIANCES on Individual Line Items adding to or subtracting from your Estimated Profit at
the beginning of the Job, which is the last Line Item. The resulting amount is your PROJECTED
PROFIT AT THE END OF THE JOB, based on Job Performance to date.
The capabilty to do this on a clean, professional looking Report with detailed figures is usually
very impressive to Financial Institutions and Bonding Companies.