Tuesday Brief: Most project managers master Microsoft Project's scheduling capabilities—dependencies, critical paths, resource leveling—but when it comes to cost modeling, they hit a wall. The gap between what your schedule shows and what your financial systems expect creates frustration, rework, and lost credibility with stakeholders. This week, we explore advanced cost modeling techniques that transform MS Project from a scheduling tool into a precision financial instrument.
August 5, 2025
In This Issue:
Featured Article: From Dates to Dollars - Advanced Cost Modeling in MS Project
Tutorial Video: How to Use Resource Pools in Microsoft Project
Live Event Tomorrow (8/6): Advanced Cost Modeling with Eric & Jeffrey Christoph
PM Best Practices: The Cost Accuracy Foundation
Featured Article: From Dates to Dollars - Advanced Cost Modeling in MS Project
Most project managers hit a wall when MS Project schedules don't reconcile with financial systems. The culprit? Rounding errors, fixed cost traps, and unused cost modeling features.
The "penny problem" alone can create thousands in variance when $110.048077/hour rates get rounded over large projects. Meanwhile, Project's cost rate tables (A through E) sit unused, capable of modeling direct labor, burdened rates, and fee-inclusive pricing separately.
The solution combines Excel precision with VBA automation to unlock Project's full cost modeling potential—no more reconciliation headaches.
Resource Article: How to Use Resource Pools in Microsoft Project
Sharing resources across multiple projects without creating overallocation conflicts requires understanding MS Project's Resource Pool functionality. This practical tutorial walks through the three essential steps for effective resource pool management.
Learn how to:
Create a dedicated resource pool file with consistent naming conventions
Link multiple project files to your shared resource pool
Monitor allocation across projects using Resource Usage view
Identify and resolve overallocation conflicts between projects
Maintain resource data integrity when working with distributed teams
Essential knowledge for any project manager coordinating resources across multiple initiatives or working in matrix organizations where resources support various projects simultaneously.
Forum Discussion: Share your biggest Microsoft Project cost tracking frustration
We're launching a new discussion in the MPUG Community Forum about MS Project cost challenges. Whether it's reconciliation issues, rounding problems, or resource costing headaches—share your biggest frustration and get insights from fellow project managers.
Join the conversation and discover solutions from the community.
Live Event Tomorrow (8/6): From Dates to Dollars: Advanced Cost Modeling in MS Project
Tomorrow, join Eric and Jeffrey Christoph for the next session in their advanced project controls series. If you've struggled with cost reconciliation between MS Project and your financial systems, this technical deep-dive is designed specifically for you.
What You'll Learn:
How to model direct, burdened, and fee-inclusive labor rates with precision
Advanced use of cost rate tables (A-E) for scenario modeling
VBA automation techniques for importing Excel-calculated rates
Material resource methods for non-labor cost tracking
Reconciliation strategies that eliminate the "penny problem"
Baseline creation and change management workflows
Eric implemented EIA-748 EVMS for projects worth over $400 billion, and Jeffrey led corporate-wide EVMS deployment across eight business units. Their combined expertise in precision cost modeling will transform how you approach project financials.
🗓️ Wednesday, August 6 🕛 12:00pm - 1:00pm EDT 📍 Live on Zoom 🏅 1 PMI PDU: Ways of Working
MPUG host live events with leading experts on Wednesdays from 12:00pm - 1:00pm ET! MPUG members get access to live events where you get direct access to industry leaders, actionable insights, hands-on training, and opportunities to earn PDU's.
Before implementing advanced cost modeling, establish three fundamental practices: First, standardize your resource naming conventions across all projects to prevent duplicate entries. Second, document your indirect cost calculation methods (fringe, overhead, G&A) with clear formulas that stakeholders can validate. Third, create a cost rate validation process that compares your MS Project totals with external systems before finalizing baselines. This foundation ensures your advanced techniques produce trusted, reconcilable results.
