This new feature lets users manage Cost Inflation on an Opportunity Line for each estimate version. It provides the ability to define labor costs, apply inflation percentages, and automatically calculate inflation amounts and totals.
Configuration
The highlighted section below shows the essential setups that System Administrator must configure to use the Cost Inflation feature. This feature can be activated in the Parameters.
- This parameter controls the Cost Inflation tab within the Opportunity Line and the Cost Inflation column in the Fee Estimator.
- This can only be activated if Enable Fee Estimator is set to Yes.
Go to Settings > General > Parameters -> Project360 -> Enable Cost Inflation
Details of fields required for Cost Inflation feature are as follows:
| Fields | Description |
| Enable Fee Estimator | Set as “Yes” to activate the new projects360 “Fee Estimator” spreadsheet in the Opportunity Line form. |
| Enable Cost Inflation | Set as “Yes” to activate the projects360 “Cost Inflation” tab within the Opportunity Line form. |
Additionally, a new company parameter Default Inflation % is introduced to default the Inflation % while creating a new record in the Opportunity Line Cost Inflation tab.
Go to Settings > General > Project Company Parameters -> General -> Opportunity Line Parameters -> Default Inflation %
- A new grid for managing Cost Inflation is available on the Opportunity Line form, accessible under a newly added tab labeled Cost Inflation.
- The new grid enables users to create, view, and manage records in the Opportunity Line Cost Inflation Estimate table, offering a streamlined interface for handling Cost Inflation data.
- The ‘Estimate Version’ in Cost Inflation tab are dynamically filtered based on the Estimate Version selected in the Fee Estimator.
- If no Estimate Version is manually selected, the system will automatically default to the primary Estimate Version defined in the Fee Estimator and displays the cost inflation records accordingly.
Details of the fields available on the Cost Inflation tab are as follows:
| Fields | Description |
| Opportunity Line | The associated Opportunity Line related to the Cost Inflation is displayed as a non-editable field |
| Estimate Version # | The Estimate Version from the Fee Estimator is shown in Cost Inflation as a non-editable field and updates automatically when changed |
| Year | With base year as ‘0’ it is auto filled sequentially based on the new records being created by users |
| Labor Cost | Mandatory field where users can provide Labor cost which will be considered by the system to calculate Inflation amount |
| Inflation % | An optional field which inherits the value from the Company parameter if defined or else users can provide the inflation % manually to calculate the Inflation amount |
| Inflation Amount | The Inflation amount is automatically calculated by multiplying the Labor Cost with the cumulative Inflation percentages defined on the selected record along with the past years’ records |
| Cost Including Inflation | A non-editable field which calculates the sum of Labor Cost and the Inflation amount |
| Total Labor Cost | Displays the sum of all the Labor costs of the Cost Inflation records on an estimate version of the Opportunity line which is non-editable |
| Total Inflation Amount | Displays the sum of Inflation amounts of the Cost Inflation records on an estimate version of the Opportunity line which is non-editable |
| Total Cost With Inflation | Displays the sum of all the Cost Including Inflation amounts of the Cost Inflation records on an estimate version of the Opportunity line which is non-editable |
Cost Inflation in Fee estimator
- The Cost Inflation column in the Fee Estimator is a read-only field for the entire estimate version. This value is dynamically calculated based on the selected Estimate Version and represents the aggregated Cost Inflation Amount from all the related Opportunity Line Cost Inflation records associated with that version.
- Additionally, the Cost Inflation amount is included in the calculation of Total Cost. The updated calculation for the estimate version is now as follows:
- Total Cost = Labor Cost + Expense Cost + Inflation Amount
