Hi Eric,
Yes, that sounds right, and is an As Designed technique that all of my "http://www.espsuite.ca">ESP for Oil & Gas clients rely on. ESP uses Workfront as its underlying platform to track complex Oil & Gas projects from exploration through to on production.
There are dozens of types of capital intensive projects (e.g. Gas Wells, Oil Wells, Facilities, Pipelines, etc.). Each project uses a (staggeringly) large amount of custom data behind it to model the industry specific information. A good portion of that data relates to capital costs. Those capital costs vary by project type. Each, though, has a calculated custom parameter called Total Capital Cost...but the formula varies depending on the project type.
For example, on an Oil Well project, Total Capital Cost would be the sum of the Construction, Drill, Completion, Pipeline, and Tie In custom data parameters (each of which is also entered at the project level); but on a Pipeline project, the Total Capital Cost would simply be the sum of the Construction and Pipeline, since Drill, Completion, and Tie In do not apply (nor are they even present) on a Pipeline project.
In doing so, we can report the Total Capital Cost across multiple projects in all the usual ways within Workfront, conceptually simplifying to treat them as the same thing (e.g. when monitoring against our capital budget), but in fact allowing each to be driven by its natural underlying components, which is also important (and reported separately).
Regards,
Doug