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      How can I use the Labor Cost Report to manage my projects better? 💼

      This article explains how to use the Labor Cost Report in Protiv to track your project budgets, identify potential overruns, and make informed decisions for better project management.

      The Labor Cost Report in Protiv is a powerful tool that can help you keep your projects on track and under budget. By comparing your budgeted labor costs to your actual costs, you can quickly identify areas where you might be overspending and take corrective action.


      Understanding the Report       🧐

      The Labor Cost Report provides a detailed breakdown of your labor costs for each job, including:

      • Job Name: The name of the project.

      • ProPay Name: The name or ID of the ProPay associated with the job.

      • Budgeted Hours: The estimated number of hours you planned for the job.

      • Actual Hours: The actual number of hours worked on the job.

      • Budget Amount ($): The amount of money you budgeted for labor costs.

      • Actual Amount ($): The actual amount of money spent on labor costs.

      • Variance (Hours): The difference between budgeted and actual hours.

      • Variance ($): The difference between budgeted and actual labor costs.

      • Percentage: The percentage difference between budgeted and actual costs.

      • Status: The current status of the ProPay (e.g., pending, approved, closed).


      Using the Report for Project Management       🛠️

      1. Identify Over Budget Jobs: Look for jobs with a high variance percentage or a large variance in dollars. These are the jobs that are costing you more than you planned.

      2. Analyze the Causes: Once you've identified over-budget jobs, dig deeper to understand why they're costing more. Are your estimates inaccurate? Are your workers taking longer than expected? Are there unexpected expenses?

      3. Take Corrective Action: Based on your analysis, take steps to get the project back on track. This could involve adjusting your budget, reassigning resources, or changing your processes.

      4. Use Data for Future Planning: The Labor Cost Report can help you make more accurate estimates for future projects. By analyzing past performance, you can better understand how long jobs typically take and how much they cost.


      Pro Tip:       Regularly review the Labor Cost Report to stay on top of your project budgets and identify potential problems early on. This will help you keep your projects profitable and avoid costly surprises.