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. Amplify allows Costs to be defined by configurable groups and 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. In an initiative where costs have been configured, the Cost tab will display all cost profiles that are linked to it. The corresponding group and category are displayed adjacent to the cost name. If you want to add new cost profiles, click New Cost. Note: For each cost category, you can add multiple cost profiles. You can archive an unwanted cost and if required, restore the cost profile.
On selecting a cost profile from the menu list, the cost dashboard pertaining to the selected cost profile will be displayed. To filter out costs by name quickly, use the Filter function.
The data entry fields in the second half of the page allow you to enter cost data. The graph in the upper part will automatically be updated. When the cost lasts for longer than 5 years the graph switches from displaying monthly data to displaying financial year data.
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 or side arrow buttons to quickly copy the value in a cell to all cells in the corresponding direction.
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, on the Cost dashboard, you will only see the costs for this initiative and not for its sub-initiatives. To view the total costs of all sub-initiatives, you will need to review the investment dashboard. The total costs of the Initiative are used in the NPV and ROI calculation on the Initiative dashboard.
Note: When you have entered actual costs for a certain month, the forecast will become zero for all months before that month but, it will be equivalent to the actual for that month. However, in the absence of actuals, the budget cost entered for the month will automatically overwrite the forecast. The estimate at completion will be actuals + forecast. The variance at completion will be calculated as Budget - Estimate at completion.