Microsoft Project 2021 From Beginners to Advanced - Calculated Custom Field - Part 1

The video tutorial explains how to manage RAG status in a project by first manually entering it and then automating the process using a formula based on cost performance. It covers setting up a cost table, understanding variance, and creating a custom field for automatic RAG status. The tutorial also demonstrates building and refining a formula using the IF function, similar to Excel, to calculate RAG status based on cost variance. Finally, it shows how to make final adjustments and display the RAG Auto status.

What changes were made to the RAG status column in version 2 of the project?

What formula is used to calculate the RAG status automatically?

Describe the nested IF statement used in the RAG Auto calculation.

What steps are taken to hide the original RAG column?