Microsoft Office Tutorials and References
In Depth Information
What’s All This Gonna Cost?
In This Chapter
Understanding how costs accrue
Establishing work resource rates
Specifying unit costs
Adding fixed costs
Allowing for overtime
Estimating resource availability
Working with budget resources
There’s no such thing as a free lunch — and if you use Project to track costs,
there’s no such thing as a free resource because Project uses resources
working on tasks as a way of calculating most of the costs of your project.
When you create a resource, you specify a work resource rate (by default,
this rate is tallied up per hour) or a material resource per use cost. You can
also create cost resources: that is, a set cost for a task that isn’t calculated
using a per-use or hourly rate, such as a trade show fee.
Some other factors come into play as well, such as how many hours a day a
resource is available to work and any overtime rates. At the end of the day,
all these settings come together to put you over — or under — budget.
In this chapter, you explore the relationship between resources and costs and
also find out how to set resource standard and overtime rates, create fixed
costs, and set the availability of resources on individual tasks in your project.
Mary, Mary, How Do Your Costs Accrue?
Project helps to account for costs on your various tasks with a combination
of costs per hour, costs per unit, and fixed costs. Before you begin to flesh
out cost information about your resources, you have to understand how
these calculations work.