Actual Cost - How do you calculate actual cost?

Q: How do you calculate actual cost?

The actual cost for projects equals direct costs + indirect costs + fixed costs + variable costs + sunken costs. Alternatively, you can use PMI's simplified formula, which is: actual cost= direct cost + indirect cost.

Answer

A project's total cost is the sum of its direct and indirect expenses, as well as its fixed and variable costs, as well as any sunken costs. The real cost is equal to the sum of the direct cost and the indirect cost, according to PMI's simplified formula.

Actual Cost - How do you calculate actual cost?

Other useful ERP terms

AI suggestions