Set Project Cost as Valuation Value

Explanation

Use this activity to use the project cost or project progress as valuation value.

If project cost and progress have been retrieved from connected project activities, or manually entered, these values can form the basis for the application for payment amounts.

Prerequisites

• The affected items should have values in either the Project Cost and Project Progress fields.
• The values may have been entered manually into these fields or by using the Retrieve Cost/Progress from Project menu option.

System Effects

The selected item Valuation Value field will be updated with project cost or project progress based on the valuation method and calculation type of the item.

Window

Application for Payment
Applications for Payment
Application Line Items

Related Window Descriptions

Application for Payment
Application for Payment/Item Valuation
Applications for Payment
Application Line Items
 

Procedure

When this activity is executed in the Application for Payment window, there will be different effects according to the place where it is performed. If performed from the header, it will affect all lines and items in that application for payment. If performed from the lines, it will affect all items for each selected line. If performed from the line items, it will affect each manually highlighted item.

To perform the activity from the Application Line Items or Applications for Payment windows, follow these steps:

1. Query for the relevant record(s).
2. Select the application(s) or line item(s). 
3. Right-click and then click Copy Project Valuation. The Copy Project Valuation dialog box will open.
4. Click Yes to confirm.

To perform the activity from the Application for Payment window, follow these steps:

1. Query for the relevant record.
2. Right-click on the header or after selecting the desired line(s) or item(s) in the Item Valuation tab.
3. Click Copy Project Valuation. The Copy Project Valuation dialog box will open.
4. Observe that the value in the Valuation Value field changes as given in the table below according to the valuation method.

5. Click Yes to confirm.

Note: Cost/Progress should be retrieved from the connected activities before setting project cost as valuation values.