project management glossary

cost status

 See content under Scope Reporting.

cost to complete

 The projected cost to complete the project from its present state.

cost to complete forecast

 A forecast by time periods for the completion of contractual tasks. Synonymous with "Estimate to Completion."

cost types

 Four different cost types are typically associated with the scope of work in a cost class. They reflect whether a cost is authorized, contractually committed, spent or forecast for spending. These types are:

1. Authorized Appropriation
2. Committed Cost
3. Expenditure (or Actual)
4. Estimate To Complete, or Forecast to Complete, or Uncommitted.

Types 1 and 4 contain contingencies. The sum of type 2 and type 4 is the estimated cost at completion. Before any commitments are made within a cost class, the type 4 cost contains a component called the anticipated award cost, which in turn may contain an allowance for escalation. Type 3 costs are further sub-divided into payments and retentions (holdbacks).