Recording project cost

You can also record the actual costs during the project execution. Actual cost is the real cost incurred on a project. These costs are logged in Project Cost Ledger. Example: Inventory Cost, Purchase Invoice Cost, Price Variances, Manual Costs, and so on. Costs can be the result of buying goods or services (Procurement), moving goods in to or out of the warehouse (Warehousing), or maintenance or service costs associated to the goods or services (Service). Costs can be recorded in Project or recorded in Financials and then transferred to Project.

You can specify the level at which the project costs must be recorded using the Project - Cost Control Levels (tppdm6102m000) session. Based on the cost object used, cost is displayed either on Cost type or Control code. The options are:

  • By element/ activity
  • By cost object

If an element is defined using the Elements (tpptc1100m000) session or an activity is defined using the Activities (tppss2100m000) session, you can use the Cost Control check box in the sessions to indicate if the project costs must be recorded for the element or activity. If this check box is cleared, Project accumulates the element or activity costs to the parent element or activity.