Spend

Projects are usually tracked by spend rate, among other things.  Project managers measure how much work has been done to date, and how much it has cost. 

This is particularly fraught with inaccuracies when measuring and predicting time spent, in comparison with money spent.

A commodity is something tangible, like raw material, that can be bought and sold, such as copper or coffee. For managing projects, expenditure on ‘things’ – concrete, steel, bricks or cabling – is easier to trace than expenditure on ‘time’. 

Time is not a traditional commodity.  Knowledge workers are tasked with demonstrating value rather than cost or time.