The Development Costs feature is an essential tool for precise project cost tracking and analysis. It offers customizable sections, robust budgeting capabilities, and the ability to identify discrepancies and analyze trends over time.
1. Accessing the 'Development Costs' Tab:
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Navigating to the Project 'Development Costs' Tab: To utilize the 'Development Costs' tab, access a specific project and click on the 'Development Costs' tab to initiate detailed cost management.
2. Customizing Sections and Associated Development Items:
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Setting Up Custom Sections and Items: These are set up with the help of a SiteZeus Support representative. Use the in-app chat to let us know when you're ready to set up your Development Costs tab! We can fully customize each section and associated items to meet your specific brand needs.
3. Budgeted, Bid Cost, and Actual Cost Tracking:
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Inputting Costs: Input the costs associated with each development item. As you enter values, the system will automatically calculate the cost, simplifying your data entry process.
4. Master Cost and Average Cost Calculation:
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Master Cost Calculation: The system aggregates the costs of all development items within each section, providing you with a master cost for that section.
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Generating Average Cost: Over time, as more data is added to the 'actual cost' field across various projects, the system begins calculating an 'average cost,' considering costs across all projects. This powerful feature helps you gauge trends and make informed decisions about spending.
5. Identifying Discrepancies and Informed Decision-Making:
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Analyzing Budgeted vs. Actual Costs: The 'Development Costs' tab aids in identifying discrepancies between budgeted and actual costs for specific items. These insights can help you pinpoint areas where cost control or adjustments may be necessary.
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Leveraging the 'Average Cost' Feature: As the 'average cost' begins populating with data, you gain access to historical cost trends. This can guide you in making more informed decisions, ensuring that you're staying on budget and continually improving your development processes.
In conclusion, SiteZeus's 'Development Costs' tab revolutionizes project cost management by allowing you to meticulously track costs, analyze discrepancies, and benefit from historical cost trends. This tool empowers you to make more informed decisions, enhancing the efficiency and effectiveness of your development projects.