Why does the 2nd formula below not work correctly?

[anovak]

The first one (re: schedule status) works fine with in Project Server
2003 (yes, we're revisiting 200 again with formulas I was using in
2007). The second one (re: cost status) provides a strange result:

1. I open a particular view in MS Project Pro 2003
2. I add the custom field column to the view on the fly (insert)
3. Although I expect "No baseline", the cell is blank (w/#Error).
4. As soon as I baseline, it displays "On budget".
5. When I immediately clear the baseline, guess what I see? "No
baseline"


WORKS

IIf([Baseline Finish]=projdatevalue('NA'),"No
baseline",IIf(ProjDateDiff([Baseline Finish],[Finish])/480>5,"Late by
more than 5 days",IIf(ProjDateDiff([Baseline Finish],[Finish])/
480>0,"Late",IIf(ProjDateDiff([Baseline Finish],[Finish])/480<0,"Ahead
of schedule","On schedule"))))

DOES NOT WORK

IIf([Baseline Finish]=projdatevalue('NA'),"No baseline",IIf(([Cost]+1)/
([Baseline Cost]+1)>1.2,"Over budget by 20% or more",IIf(([Cost]+1)/
([Baseline Cost]+1)>1,"Over budget",IIf(([Cost]+1)/([Baseline Cost]
+1)=1,"On budget",IIf(([Cost]+1)/([Baseline Cost]+1)<1,"Under
budget")))))

Thanks,
Andy Novak
UNT

 

[NZ Projects]

You have not including a false arguement.

Iff (condition, True, False)