Using Projected Costs versus Estimates
Several of the standard Spectrum Job Cost reports allow for selecting whether to print projected costs or estimated costs on the report. In addition to affecting the cost and various amounts, using projected costs on the Contract Status Report affects the calculation of earned revenue. Earned revenue is calculated as:
(Cost to Date / Projected Total Cost) X Revised Contract Amount
OR
(Cost to Date / Current Estimated Cost) X Revised Contract Amount