Cost is a general term used to denote the money spent on setting up and running the program or project. It may be direct costs, such as the money spent on the infrastructure or indirect costs, such as accounting or legal expenses.
Amplify allows for Costs to be categorised by a configurable set of Cost Categories. The categorised cost breakdown can then be explored using the Investment dashboard or analysed using the Amplify reporting templates.
As with much of your Initiative Dashboard options, Costs must be enabled in your Administrator Settings, as would be your Cost Categories.
Each Initiative can be considered as an investment towards the delivery of Benefits. Usually, you invest in an Initiative in the first few years. On the Initiative you can enter the forecast, actual and budget costs per month to track the investment in this initiative. Click on Cost on the initiative dashboard to enter the costs.
The total Costs for an initiative are made up of the Cost of the initiative itself and all its sub-initiatives: like the cost for a program is made up of the costs of its projects. However, in the Cost dashboard, you will only see the costs for this initiative and not for its sub-initiatives. The total costs of the Initiative are used in the NPV and ROI calculation on the Initiative dashboard.
In the bottom section, you can enter the costs. The graph in the upper part will automatically be updated.
When you have entered actual costs for a certain month, the forecast will become zero for all the months before the actual. When you enter budget costs for a month that doesn't have actual and forecasted costs, the budget costs will automatically overwrite the forecast. When you enter actual costs, the forecast will always be changed into the actual costs for that month. The estimate at completion is the actuals + forecast. The variance at completion will calculate the Budget - Estimate at completion.
Amplify has a quick toggle feature, which can be used to input costs in a rapid way, assuming you are applying the same value to each input field. Select the up/down/ and side arrows to quickly apply duplicated values to fields.