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Element of Cost Code Structure
You can now modify the content of the shared system level element of cost code structure. A Navigation Menu option has been added (Project Data > Element of Cost) to tailor the default set of cost elements to your business environment. Elements of cost (EOC) or cost elements are the summary categories of cost such as labor, material, and other direct costs. All ProjStream software tools and projects share this system level list of summary EOC categories and optional subcategory detail. You can also use the EOC categories as resource attributes for reporting and other purposes.
Use Notes: The EOC categories are predefined to support common government contractual reporting requirements. It is often necessary to map your resources into one of the four standard categories identified in government reporting Data Item Descriptions (DIDs). This includes the Cost and Software Data Report (CSDR) Cost and Hour Report (FlexFile) DID DI-FNCL-82162 and the Integrated Program Management Report (IPMR) DID DI-MGMT-81861A. Before you modify the predefined list, determine whether any of your projects will have government reporting requirements. At a minimum, you may need to maintain the four standard summary EOC categories as the IPMR is a common project performance reporting requirement. Projects without government reporting requirements could use any user defined summary element of cost categories you add such as Travel. If you don't anticipate your projects will be required to produce the CSDR, you can delete or modify the subcategory detail to fit your business environment.