Cost Code Analysis

The data model captures various cost-related metrics for cost codes including standard unit cost, liens amount, original and revised estimated costs, unbilled cost, year-to-date and project-to-date cost and unit accumulations, future cost projections, and cost breakdowns by department, project, vendor, and category. Additionally, it enables tracking cost trends over time, comparing budgeted versus actual costs for financial evaluation, and forecasting expenses based on historical data.

Benefits of This Data Model

• Improved Cost Tracking: The data model enables detailed tracking of cost codes by various metrics, providing insight into standard unit costs, estimated costs, unbilled costs, and cost breakdowns by department, project, vendor, and category.
• Enhanced Budgeting Decisions: Users can compare budgeted versus actual costs using the model, facilitating better financial evaluations and helping in forecasting expenses based on historical data.
• Optimized Resource Allocation: By analyzing costs per department, project, vendor, and category, organizations can identify spending patterns and optimize budget allocations, leading to more efficient resource utilization.
• Proactive Cost Management: The ability to monitor cost trends over time and track fluctuations allows for proactive cost management strategies, enabling timely adjustments and better decision-making.

Key Performance Indicators (KPIs)

• Standard Unit Cost: The cost per standard unit for a particular cost code.
• Liens Amount: The total amount of liens associated with a cost code.
• Original Estimated Cost: The initial estimated cost for a cost code.
• Revised Estimated Cost: The revised estimated cost for a cost code after adjustments.
• Unbilled Cost: The total cost that has not been billed yet for a cost code.
• PTD Cost: The year-to-date cost accumulation for a cost code.
• PTD Units: The year-to-date units accumulated for a cost code.
• YTD Units: The total units accumulated year-to-date for a cost code.
• YTD Cost: The total cost accumulated year-to-date for a cost code.
• JTD Units: The total units accumulated since the beginning of a project for a cost code.
• JTD Cost: The total cost accumulated since the beginning of a project for a cost code.
• Future Cost: The projected future cost for a cost code.
• Future Units: The projected future units for a cost code.

Available Visualizations

View Name	Description
Cost by Department	Analyzes costs per department to track spending trends and identify cost-saving opportunities.
Cost by Project	Breaks down costs by project to monitor project budgets and analyze profitability.
Cost by Vendor	Examines costs by vendor to negotiate better contracts and improve vendor management.
Cost by Category	Categorizes costs to understand spending patterns and optimize budget allocations.
Cost Over Time	Tracks cost fluctuations over time to identify seasonal trends and forecast future expenses.
Budget vs Actual Costs	Compares budgeted costs with actual costs to evaluate financial performance and variances.