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Defining Estimated Cost, Project Life, and ROI

When creating and planning a project, you can define three properties:
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Estimated costs of the project
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Expected life of the project
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Expected return on investment (ROI)
When defining estimated cost, enter only the cost of this particular project, not including the costs of its sub-projects. The total project cost including sub-projects is calculated automatically. If a project is sent for approval and there are no work orders associated with the project, the Estimated Cost of the Project is used to populate the Approval Value. If the project does have planned work orders associated with it, the sum of the work orders’ planned costs is used to populate the Approval Value.
When defining project life, enter start and end dates for the project, as well as the project duration. The project duration is calculated from the start and end dates, but it is possible to override the calculated duration value.
When defining return on investment (ROI), enter the percent ROI and the period in which that return can be attained. Entering the expected ROI is helpful in the approvals process, as well as the follow up to closed projects to gauge their success.
Note: This information is visible if the project type allows project details. If this tab is hidden, you can enable it if you have the required security profile. For more information, see Setting up Project Types.

To Define Estimated Cost, Project Life, and ROI

1.
Select the project’s Properties view, General tab.
2.
Make sure that editing is enabled.
3.
Select the Details tab to define the estimates of cost and return on investment.
4.
On the Details tab, enter the following information:
Setting Name
Description
Of this project
The total estimated cost of this project, excluding the estimated costs associated with its sub-projects.
With sub-projects
This calculated, read-only, box displays the sum of the estimated cost of this project and all its sub-projects’ estimated costs.
Percentage
A value that represents the ROI that is expressed as a percentage. For example, increase production throughput by 15% in 2 years.
ROI duration
A value and unit of measure that represents the period that will see the specified ROI. For example, increase production throughput by 15% in 2 years.
5.
Select the Life-to-date tab.
6.
Enter the following information:
Setting Name
Description
Planned start date
The planned starting date for the project. This date is not linked to any work order planned start dates.
Planned end date
The planned end date for the project. This date is not linked to any work order planned completion dates.
Project life
The expected duration of the project. By default, this value is calculated based on the planned start date and planned end date; however, this value can be revised. The appropriate units are selected in the adjacent list box.
7.
Save the project.