Accounting for resource rate changes

In some situations, you must charge different rates on different tasks for the same resource. Or, you may expect a resource's rate to change during the life of your project. Project uses cost rate tables to accurately reflect resource costs as they change. On cost rate tables, you can identify up to 125 rates for a single resource, and you can identify the effective date of each rate. Cost rate tables help you to account for pay increases or decreases to resources during the life of your project and enable you to charge the same resource at different rates, depending on the task.

To assign multiple rates to a resource, use the Costs tab of the Resource Information dialog box. On the Resource Sheet view, double-click the resource for which you want to assign multiple rates. Click the Costs tab in the Resource Information dialog box, as shown in Figure 5-20.

Figure 5-20: Use cost rate tables to assign different rates to a resource.

The Costs tab displays five cost rate tables (tabs A through E) that you can use to assign different rates to a resource for use on different dates throughout a project's life. On each cost rate table, you can enter up to 25 rates for the selected resource and indicate an effective date for each rate. Project uses the effective dates that you supply to apply the correct rate to a resource at different times during the project.

Tip If you are specifying a new rate as an increase or decrease of an existing rate, you can specify the new rate in a percentage (such as +10% or -10%); Project calcu-' lates the value of the rate for you. You must enter the percent sign.

If you charge different amounts for resources depending on the type of work that they perform, you may want to use each cost rate table tab to represent sets of rates for different kinds of work.

To assign the correct resource cost rate table to a task, follow these steps:

1. Assign the resource to the task by using the Assign Resources dialog box, as discussed in section "Assigning resources to tasks," earlier in this chapter.

2. Choose ViewOTask Usage or use the View bar to switch to the Task Usage view, as shown in Figure 5-21.

3. In the Task Name column, select the resource for which you want to select a cost table.

4. Click the Assignment Information button on the Standard toolbar to display the Assignment Information dialog box. Click the General tab, shown in Figure 5-22, to select a cost rate table.

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5. Select the correct cost rate table from the Cost rate table drop-down list.

This chapter detailed more about using resources in Project, including how to create and assign resources. The following topics were covered:

♦ Creating a resource list

♦ Modifying resource information, including using calendars for resources

♦ Assigning resources to tasks and removing resource assignments

♦ Handling fixed costs, both for individual tasks and for resources

♦ Assigning either a fixed or variable cost to a material resource

♦ Setting up different rates for resources to account for pay increases or decreases or for charging resources at different rates on different tasks

Chapter 6 presents the basics of using the standard views in Project.

Chapter 12 covers project costs in greater detail.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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