You can enter or import the actual costs incurred by the project into MPM for analysis and comparison with the budget. This is an optional feature provided by MPM.
Actuals are not collected by MPM. Your accounting system provides the actuals, which you can either input manually or import directly. MPM sorts and summarizes actual costs by WBS/OBS and then provides comparative reports and graphs.
Actuals may be collected by Element of Cost or by Resource at any level of the WBS. If you collect Actuals at the control account level and calculate BCWS and BCWP at the work package level, and you want to set BCWS and BCWP equal to actuals when running the Replan utility, you must set it at the level of the WBS where actuals exist. This will clear your variances at the control account level, and retain the variances at the work package level.
Whether you manually enter or import Actuals, the dollar amounts are automatically accumulated using the following formulas:
Prime + Overhead = Total Burden
Total Burden + G&A = Total Cost
Total Cost + Cost of Money = Total Dollars
Total Dollars + Fee = Total Price
These totals are rolled up in each WBS parent automatically. If you are entering Actuals manually and this automatic rollup is slowing you down, see Creating Actuals for details about turning off the Rollup toggle.
Once you have entered your actuals, you can run several reports and graphs to compare your actuals to your budget and try to predict the costs and schedule required to finish the project. See Introduction to GDD for details on generating a graph.
You can revise actuals in one process using the Reprice utility. Repricing is usually performed when there are major modifications to burden templates or rate tables. Using the utility can save a great deal of time over modifying each estimate separately. You can also use the Reprice utility to run 'what if' scenarios against copies of your project. You can easily shift resources and change direct or indirect rates to produce different pricing scenarios.
You should run Reprice Actuals if the Resource Code or Resource Department has changed for Resource Actuals, or the EOC code has changed for EOC Actuals. See Introduction to the Utilities for details.