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Calibrate: Normalization

Updated over 2 months ago

Video

Summary

  1. The calibrate module gives you the ability to normalize cost by time, by location or by custom factors you create. Click the normalize dropdown menu and select Apply next to the factors you want to use. You can also choose to plot the normalization on the table and on the chart.

  2. To customize the time normalization, input the percentage cost change year to year. A positive percentage means costs increased compared to last year. You can also apply the normalization by month.

  3. The location normalization is based on the location of the project chosen upon project creation. You can similarly adjust the cost changed using positive or negative percentages. A negative percentage means that the cost in the project location is lower than the selected city.

  4. From this menu, you can also add custom normalization coefficients. Provide a description, enter the percentage change, and select the projects to which you want to apply the normalization.

  5. Instead of using the Basic Normalization which is based on RLB factors, you can use a custom cost index that you have developed.

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