Anticipated Final Cost Update
To report the current cost status of the project and the anticipated final cost based on the best judgment of the management team.
The anticipated final cost is an estimated number based on knowledge of job conditions and the best judgment of the management team.
The Project Manager, with input from the other members of the Project Team, will review each line item of the cost report. If the final cost of the individual line item is expected to vary from the updated total budget, the anticipated final cost column of the Job Cost Report is to be updated in the Timberline accounting software system by the Project Manager as follows:
Step 1: In Job Cost Window – Select Tasks
Step 2: Select “Enter Misc. Worksheets ”
Step 3: Click on “Lists”
Step 4: Select MISC5-CAT – Misc. Worksheet
Step 5: Select OK Replace Amt.
Step 6: Enter Job Number (Example – 2108)
Step 7: Strike the Enter Key (lower case)
Step 8: Make adjustments in the Replace Amt. Final
Step 9: After all updates are complete – Select Save
Step 10: To accept changes – Select Yes
Step 11: Select Finish
Step 12: To print updates and close this activity – Select Print
These updates will be reflected on the Job Cost Report.
Updates to the Anticipated Final Cost may be reviewed
by printing the Job Cost Report as follows:
Step 1: In Job Cost Window – Select Reports
Step 2: Select “Cost Control”
Step 3: Select Carter & Carter – Job Cost Custom Category
Step 4: Select “Ranges”
Step 5: Select Job Number (Example – 2108)
Step 6: Select OK
Step 7: To print this report and close this activity –