A custom field in which the contents display values relative to a formula or equation. These formulae can be copied in from other project files or from GLOBAL.MPT. Calculated fields can be used to:
1. Show cost / interim baseline cost performance.2. Compare dates to show slippage values. 3. Display graphical indicators instead of numeric values.
Enterprise fields can also contain calculated values.
'SOURCE; microsoft project glossary-projectlearning.net