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.
Closing a Reporting Period
Ensure all data has been updated for the period.
Verify the current reporting period is correct, this is displayed next to the Cost Worksheet title above the Toolbar.