What is cost deviation in SAP SRD-PRO-PMN - PRO-Project Management?

SAP Term: cost deviation

• Component: SRD-PRO-PMN

• Component Name: PRO-Project Management

• Description: The difference between the forecast cost and the planned cost in the baseline of a project task. Cost deviation is measured in two ways; as an absolute value in cost units and as a value in percentage terms.

Smart SAP Assistant

• Key Concepts: 
  Cost deviation is a term used in SAP SRD-PRO-PMN PRO-Project Management to describe the difference between the planned and actual costs of a project. It is calculated by subtracting the planned costs from the actual costs. This difference can be either positive or negative, depending on whether the actual costs are higher or lower than the planned costs. 
  
  How to use it: 
  In order to calculate cost deviation, you must first enter the planned and actual costs of a project into SAP SRD-PRO-PMN PRO-Project Management. Once these values have been entered, you can then subtract the planned costs from the actual costs to get the cost deviation. 
  
  Tips & Tricks: 
  It is important to keep track of cost deviations in order to ensure that projects are staying within budget. If a project's cost deviation is too high, it may be necessary to take corrective action in order to bring it back within budget. 
  
  Related Information: 
  Cost deviation is closely related to other terms such as budget variance and cost overrun. Budget variance is the difference between the budgeted and actual costs of a project, while cost overrun is when the actual costs exceed the budgeted costs.