Planning Resource Costs
The key to planning project costs is entering resource costs. Typically, the majority of your costs comes from resources carrying out their assignments. When you enter resource cost rates and assign resources to tasks, those resource cost rates are multiplied by the amount of work on assignments. The result is the cost of the assignment.
You can set costs for work resources as well as material resources. Cost rates might be variable, such as $40/hour, or $200/ton. Or they might be a fixed per-use cost, such as $300 per use.
You can also use cost resources, new in Microsoft Office Project 2007, to assign frequently used cost items—for example, facility rental, permit fees, or travel costs—to specific tasks and then specify ...