What is BACKLOG vs UNALLOCATED BUDGET in the Cost Summary report?
The TOTAL section of this report features two actuals columns (TO DATE, ACTUALS & ALLOCATED), ONE budgeted column (BUDGETED), and TWO calculated columns (BACKLOG and UNALLOCATED BUDGET)
The two calculated columns are based on the following calculations:
- BUDGETED minus TO DATE = BACKLOG
- BUDGETED minus ACTUALS & ALLOCATED = UNALLOCATED BUDGET
This allows you to ensure that your forecasted budgets (via assignments or plans) plus actuals are in line with your total project budgets. For example, the total labor cost budget is $1.575,000 below. Looking only at beginning of time through the end of the reporting period, we see that there is remaining backlog of $1,109,073.20. Looking farther into the future to accommodate forecast values from assignments/plans, we see that we still have a portion of the total budget unallocated into assignments/plans ($1,109,073.20). If you've completed your forecasting activities (assignments/plans), then this shows that you will finish with remaining budget available. If you have yet to complete your forecasting activities, this would mean that you only have $1.109M to work with.