1. A live formulaic element effort event reporting method for collecting element effort event data and reporting said element effort event data in a multitude of real time Formulaic Conjoined Project Effort Instance (CPEI) reports, comprising the steps of: (a) collecting said element effort event data from a data source, (b) inputting said element effort event data into a computerized device according to a prescribed formula for use in a multitude of element effort event data associations, (c) processing said element effort event data by forming simple and complex associations between said element effort event data, (d) storing said element effort event data in base tables in a core database in a computerized device, (e) receiving a CPEI data query to a core database from a user device, (f) searching core database tables in response to said CPEI data query utilizing a CPEI data searching module, (g) generating a multitude of CPEI data in virtual system views in response to said CPEI data query by a CPEI data generating module, and (h) reporting said multitude of CPEI data in predefined, structured CPEI data reports from data view modules with virtual view tables.