Hello Abdul Quddus,
First of all, let us talk about the cost in project management then see how to implement it using planning tools (primavera and excel)
A: project management:
1- Budget Cost: is the cost of materials Labor and equipment. The manpower here is the direct manpower and not including the supervision and management costs. This also called direct cost.
2- Selling price: is the budget cost (direct) + the overhead and profit ( indirect cost).
3- Actual cost: the actual money spent on materials, manpower, and equipment (actual direct cost).
4- Actual overhead and profit: the variance between selling price and actual cost.
B: Planning Tools:
1- cost loading: is an excel sheet which connects the bill of quantities with project activities. For example, If you have one activity for foundation and you have 3 bill of quantities (boq) items for isolated footing and strip footing and raft, you combine all the costs and quantities of Boq items under the footing activity to have one number for the cost and one number of working hours for each resource. The result of this exercise could be 6000 USD cost and 100 hours for a carpenter, 50 hours for steel fixer and 25 hours for Labour you then take these cost and resources and put in primavera. Cost loading could be done as per budget cost or selling price.
2- primavera selling price : we create one resource called cost and assign the budget units as per the cost loading calculation. Furthermore, We create one resource for each profession (carpenter, steel fixer, ...etc) the cost of resource cost here equal zero because the selling price which includes the resources cost already included in the cost resource.
3- primavera actual cost: we create one resource for materials, one resource for each profession and one resource for each equipment. The cost of materials and resources will be as per the cost loading calculation for actual costs.
I hope my answer was useful for you. If you need more details and steps about creating cost and resource loading and how to load that to primavera in a smart way, I would recommend this course for you: