Question:
What is the definition of "Generated" cost and "Work Cost" values on the Work Plan Cost Analysis tab for Stop Gap Repair and Repair work activities?
Answer:
"Generated" is the estimated monetary benefit of a work activity. Its calculated based on the extended service life resulting from the repair and the amortized value of the component. So if you have a component that is expected to last 10 years and costs $10,000 to replace, and a repair at some point in its life is expected to result in an additional 2 years of service, the benefit or returned generated would be $10,000/10 (x 2 years) = $2,000. The work cost, by comparison, is just the estimated cost of performing that work activity.