Specify a Not To Exceed Cost

Profit Profiler continuously keeps track of your project cost as each transaction is made. 

For budgeting purposes, you can specify a total amount for the project that will not be exceeded. When that amount is reached the project will be halted. You will be advised by e-mail and participants who are currently in the project will receive a thank you message for their participation.

The Profit Profiler template that you can download, contains a Cost Estimate sheet you can use to project your total project cost. The Cost Estimate sheet contains predefined calculations as shown below:

Activity Sampling

As stated on the sheet, if you collect between 1500 and 4000 observations you should achieve acceptable 95% confidence for the majority of your tasks. Additional observations should be planned if you have monthly cycles that you wish to capture.

Note: that in Activity Sampling the sheet projects the number of days required to collect the Total Projected Transactions.

Activity Logging

As stated on the sheet, if you collect around 100 typical transaction for your major activities you will usually achieve acceptable 95% confidence. If some of your activities are low frequency then you may wish to collect additional observations or instruct users to only time those specific activities once you have data for you more common tasks.

Note: In Activity Logging the sheet projects the number of hours required to collect the Total Projected Transactions.