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Closing reporting periods

Defining and closing-off reporting periods in your Cost project.

Reporting periods are a set of pre-defined time periods that are applied to a project. These periods allow you to calculate the period budgets against which you will track progress against, monitor performance, and measure project activities.

During every reporting period, the project is progressed by entering actual and committed values and evaluating progress and earned value. This is stored as historical data and is used for reporting and comparison.

Ensure all data has been entered into Cost for the current period before closing. This includes actual costs, project changes, forecast updates, contracts, variations and payment claims.

Closing a Reporting Period

  1. Ensure all data has been updated for the period.
  2. Verify the current reporting period is correct, this is displayed next to the Cost Worksheet title above the Toolbar
The Cost Worksheet title bar.
  1. Under Utilities click Close Reporting Period.
  2. Type at least the first six letters of the project name into the confirmation dialog.
  3. Click the Close Period button. Cost then complete the process and will display a notification when finished.
The Close Period window.

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