Finding the Cumulative Cost of the Project
Finding the Cumulative Cost of the Project
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0:55 – Creating the Gantt Chart in ES and Adding the costs
3:50 – Time Phased Budget in ES
4:15 – Cumulative Budget in ES
5:05 – Conclusions
After creating the project schedule and determining, the Early Start, Early Finish, Late Start, Late Finish, the Float, and the critical path it is time to determine the cumulative costs curve of the project which is also called the S-curve.
The activities are added to the Gantt chart on their Early Start Position and the cost of the activities is added.
For each period, it is now possible to determine the costs by adding all the costs of all the activities per period and then cumulating them to obtain the cumulative costs or S-curve.
In this example, we consider that the activities start and end in their Early Start positions. It is also possible to create the cost curve with all the activities in their Late Stat position.
After resolving the resource overallocation issues and re-arranging the activities, we obtain the schedule baseline which represents the planned start and finish times of all activities. It is based on this curve, the cost baseline can be determined.
Basically, we can create 3 different budgets: the ES-budget or S-curve, the LS-budget, and the Planned Start Budget which is based on the schedule baseline (after resolving the resource issues) and which is also the budget or cost baseline.
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