Ongoing costs allow you to capture any ongoing expenses that may be incurred as a direct result of the project to be off-set against any realised benefits. This provides a view of the real gains for the project.

 

Ongoing costs are managed in much the same way as project benefits. As with benefits, ongoing costs also have their own section of the project workspace where you can easily switch between a view of qualitative or quantitative ongoing costs.


To edit ongoing costs, navigate to the Ongoing Costs section of the Project Workspace and select EDIT ONGOING COSTS




The ongoing costs page contains a detailed view of all ongoing costs, both Qualitative and Quantitative, that are being tracked for a project. 


For each listed ongoing cost you can quickly see:

  • What type of ongoing cost it is;
  • Who owns accountability for the ongoing cost and whether they've acknowledged their accountability;
  • The current RAG status for realisation of the ongoing cost; and
  • Any status commentary.




To add a new ongoing cost to a project select ADD NEW


 



Select whether you want to create a Qualitative or Quantitative ongoing cost and select the cost type (the cost types available for selection are configured by your system administrator).


Complete the required fields and assign the ongoing cost to an owner.

When a benefit is assigned to an owner, they will receive a 'handshake' request to their My Items dashboard asking them to acknowledge their accountability for the stated ongoing cost.



Owners can also reject their accountability for an ongoing cost which is easily identified on the Ongoing Costs page... 




To edit the assignee, open the Benefit dialog, click on REMOVE, add a new owner and SAVE.





This section of the dialog box is only displayed for Quantitative on-going costs to specify either non-resourcing or resourcing values. Capturing a quantitative ongoing cost is done in much the same way as with project benefits.


Non Resourcing


Cost Center: The details of the cost center that the ongoing cost belongs to.
Currency: The currency the ongoing costs are set to be realised in.
Expense Type: The expense type the ongoing cost can be attributed to.
Start Date: The date from when the ongoing cost will start being incurred.


Entries with comments can be identified by the little Seppech Bubbleicon. Click into an input box to view or edit the comment.


The number of years available for benefit entry is configured by your administrator.




Resourcing


Cost Center: The details of the cost center that the ongoing cost belongs to.
Rate Card: The rate card to be applied to the resources to quantify the full value of the ongoing cost. If rate cards have not been set up please contact your system administrator.
Start Date: The date from when the ongoing cost will start being incurred.


Click into each input box to capture the headcount cost as a decimal percentage of 1 full time resource.





Each ongoing cost has its own RAG status for tracking the health and probability of an ongoing cost being incurred.


New RAG statuses can be added to a benefit at any time - just click on ADD A NEW STATUS.




All status updates added over time are kept listed on the dialog box to provide a historical record of the health of the benefit through its lifecycle.