How project costing works

Administrators assign hourly cost rates to users in user profiles. These will be used to calculate project costs, once employees start entering time against projects.

If your organization needs to calculate normalized costs, administrators can set up normalization rules and assign them to users.

Make cost estimates

If your organization wants to track actual costs versus estimates, project managers enter cost estimates for projects or tasks.

With select products, managers can allocate resources to projects and tasks. Allocated hours serve as another kind of estimate and, once multipled by hourly rates, can be compared to actual costs in reports.

Track costs by cost type

If you need to track costs by cost type, you’ll need to choose a cost type for each project and task. You can also assign budgets by cost types when you create program budgets.

Project resources submit time and expenses against projects. Hours worked are multiplied by hourly cost rates to arrive at cost data.

Cost managers check the approval status of time and expense sheets, to see if items are available for use in cost calculations.

If items they want included aren’t approved, they can override the regular approval process to make them available.

Cost, project, and program managers can track raw costs, or actual costs versus estimates, using reports and graphs in the interface.

If you use third party software, you can transfer data to those applications using Replicon’s project integrations or report data exports. Or you can create custom columns to perform additional calculations within Replicon itself.