What is cost to complete in SAP PS - Project System?

SAP Term: cost to complete

• Component: PS

• Component Name: Project System

• Description: The estimated cost of activities to perform. The estimate takes account of how costs have developed.

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• Key Concepts: 
  Cost to Complete (CTC) is a term used in the SAP Project System (PS) module. It is a calculation of the estimated cost of completing a project, based on the current status of the project. CTC is calculated by taking into account the remaining budget, the remaining duration of the project, and any additional costs that may be incurred. 
  
  How to use it: 
  CTC can be used to help project managers make decisions about how to allocate resources and budget for a project. It can also be used to compare different projects and determine which one is more cost-effective. CTC can be calculated manually or automatically using SAP PS. 
  
  Tips & Tricks: 
  When calculating CTC, it is important to consider all potential costs that may be incurred during the project, such as labor costs, materials costs, and overhead costs. Additionally, it is important to consider any changes in scope or timeline that may affect the cost of completing the project. 
  
  Related Information: 
  CTC is closely related to Earned Value Management (EVM), which is another method of measuring and managing project performance. EVM takes into account both the budget and timeline of a project, while CTC only takes into account the remaining budget and timeline.