Projected Cost – The predicted total cost of a job or phase at the time of completion.

When a job is first entered into Spectrum, the original estimated cost is entered at the phase level, and the current estimated cost is automatically set equal to the original estimated cost.

Changes to the estimated cost can be caused by various factors:

• Changes in the job scope – these can be recognized in Spectrum through the use of change orders. Change orders are entered in Accounts Receivable, and generally change both the contract (what is to be billed to the customer) and the current estimated costs (it costs more to perform additional work).

• Cost Overruns – material or labor prices may increase, or the subcontract cost is higher than expected. Cost overruns may not be "cost reimbursable", or in other words, the contractor may not be able to pass the cost along to the customer, and may impact the profitability of the job.