💡Use Case: How to estimate project costs with Cost Tracker
- Iryna Komarnitska
Our formula for the project cost is: Team logs * Team rates + Direct expenses.
After installing the product from the Marketplace, the add-on will synchronize with all Jira users automatically.
To begin, you need to establish the hourly rate for each teammate.
Then, it’s time to add the list of expenses related to the project.
You can add One-time and Recurring expenses and associated expenses with Projects, Users, Issues, etc.
3. The third step is scope preparation.
Let's explore a scenario where the user wants to assess the scope of last month. To do this, navigate to Jira Filters and generate a filter that captures all issues with a worklog for the previous month.
Example of JQL:
(( "worklogDate" >= startOfMonth(-1) )) and (( "worklogDate" <= endOfMonth(-1) )) and project = Development
This filter will be used for monthly reporting.
4. The last step to the Cost report is to go to the appropriate page and Generate report.
After selecting the saved filter, input the Default hourly rate (which aids in obtaining data for users without specified rates) and specify the worklog and direct expense period.
The generated report will encompass the Scope cost, Team cost, and Expenses associated with the chosen period.
Each report maintains a direct connection to all its elements and automatically adjusts whenever changes occur. For instance, users can add missed Expenses later, or modifications can be made to the worklog.
To conclude the report and prevent further alterations, the Project manager can finalize it. This action freezes all the numbers and prepares the report for presentation to stakeholders and other relevant parties.
Financial data is sensitive, so the right restriction is set in the additional settings.
Cost reports are not available to all users. Only those who have been granted this option when setting up the application. But the report-sharing feature is available for other Jira users. To do this, click the lock icon in the Action column and select those with whom you want to share the report.