1. Lentune | Knowledge Base
  2. Projects
  3. Forecasting and Analysing Project Costs

Project Forecast and Labour costs

View Forecast and Labour costs in the Cost codes tab for a Project.


Forecast and Labour costs


In the Cost Codes tab for a Project, you can view the Forecast and Labour Costs that have been assigned to this Project via the Cost Codes.

Return to Top of Page

Forecast and Labour costs

Explanation of the fields displayed in this section are:


Revised Budget: The sum of Budgets plus Variations for all Cost Codes on this Project.

Spent: Total amount spent on the Project from invoices, expenses, time sheet entries, and payable claims.

Cost to complete: The sum of all positive values in the Remaining column of the Cost code grid.

Final Cost: Committed amount (i.e. sum of Purchase Order amounts for the Project) plus Spent amount plus Spend Adjusted (from the Cost code's spend adjustments). (Note: Purchase Orders must not be cancelled, rejected, or completed to be included in this calculation.)

Invoiced values: Sum Invoice amounts (excluding tax) for the Head Contract.

Variance: Revised Budgets less Spent less Cost to complete.

Budgeted margin: Contract value plus Contract Variations less Revised Budget.

Budgeted margin percentage: (100 x Budgeted Margin) / (Contract Value plus Contract Variations)

WIP: Total Revenue Claimed on Head Contract (including variations) less ((Total Spent cost/Revised Budget) x (Contract Value less Variations))

Forecast margin: Budgeted Margin less Variance.


Original budget hours: Initial budget hours for all time sheet Cost codes for the Project.

Spent hours: Time sheet entries for the Project and Cost Codes.

Budget hours variations: Variation from the Cost Codes used for Time sheet entries.

Revised budget hours: Original Budget hours plus Variation.


Return to Top of Page

Was this helpful? If you require further assistance, or would like to contact us about this article, please email us at support@lentune.com.

Thank you. We really do appreciate your feedback.

Last updated: 25 October 2022