Kantata uses three different calculations for estimating project completion:
- EAC (Estimate at Completion)—This is what has already been spent and is expected to be spent by the time the project is complete. EAC is calculated by adding your actual fees with your future hours to show you an estimate of what your total hours and fees will be once the task work is completed.
- ETC (Estimate to Complete)—This is the amount of money spent from the day of the week specified in the Project Estimate Calculation Options until the end of the project. ETC is calculated by multiplying either scheduled hours or hard allocations by bill rate from the day of the week specified in the Project Estimate Calculation Options forward. It will only be available to view after you enter scheduled hours in the Resourcing tab of a project or hard allocations in the Resource Center, depending on the Project Estimate Calculation Options you’ve selected in the Time & Expense Settings.
- Actual Fees—By default, this includes the hours that have been tracked towards the project to date. If you have selected the Include Expenses option in the Financials section of the Project Settings; actual fees also include expenses and additional invoice items.
Estimate at Completion / Estimate to Complete
Project Pulse Side Panel
EAC and ETC are displayed on the Project Pulse side panel to members with View Financials project permissions (or higher); here, you'll also see the project's total budget, as well as the actual fees. This allows you to visualize how you’re tracking against your task budget and original hours estimate.
Task Details Side Panel
In the Scheduling section of the Task Details side panel, the EAC column is calculated by adding time that has already been tracked to future scheduled hours. The Variance column shows what is budgeted for the task minus the EAC, giving you insight into the current performance of the task. If the variance is positive, it means that the task is healthy (i.e., the task is scheduled and/or budgeted correctly).
The Actual Fees progress meter takes the billable time, multiplied by the bill rate (plus any tracked expenses), and compares it to the estimated budget for the task. Actual fees are calculated to date for both fixed fee and time and materials tasks. You'll be able to instantly see how you’re tracking against your task budget—a green bar means that the task is under (or at) budget and a red bar that it is over budget.
The Actual Fees progress meter is available in the following places in Kantata OX:
- Global Tasks List—Select Financial from the View drop-down menu to see how actual fees compare to your estimated budget across all of your tasks.
- Task Details Side Panel—The Time & Fees section displays actual fees compared to estimated budget, including the amount remaining/over and the total amount invoiced to date.
- Groups Side Panel—Displays the actual fees compared to the estimated budget for each project in which the selected group is participating.
- Task Tracker—Configure a Task Finances Saved View to see a comparison between the actual fees and the estimated budget for each task in the project.
- Analytics Reports—Include actual fees and budget in your Works in Progress and Performance Analytics reports.
- Project Admin Box—The Budget tab gives you an even more detailed view into how you are tracking against your estimated budget. You'll see your Total Budget, Actual Fees to Date, and the amount of budget Remaining. In addition, the banners below the progress meter give you information on the current number of work hours remaining in the project, the cost-to-date for your budgeted tasks, and the total amount of expenses that have been tracked to the project.
Kantata calculates the hours of work remaining by:
Remaining Budget ÷ (Actual Fees to date ÷ Total billable hours)
Time Progress Meter
The Time progress meter compares the number of hours tracked so far to the number of hours estimated for that task. Similar to the Actual Fees progress meter, the bar advances as more hours are tracked and changes from green to red once you've exceeded your estimated hours.
The Time progress meter can be viewed from the following areas in Kantata OX:
- Global Tasks List—Select Progress from the View drop-down menu to see how your tracked hours compare to estimated hours across all of your tasks.
- Task Details Side Panel—The Time & Fees section displays tracked hours compared to estimated hours, including the number remaining/over and the total billable and non-billable hours-to-date.
- Task Tracker—Configure a Task Progress Saved View to see a comparison between the actual hours and the estimated hours for each task in the project.