Chapter 10

Determining a Project’s Cost


Bullet Understanding how costs accrue

Bullet Establishing work resource rates

Bullet Specifying unit costs

Bullet Adding fixed costs

Bullet Allowing for overtime

Bullet Adding up all the costs

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 the project.

When you set up a resource, you specify a work resource rate (by default, this rate is calculated by the hour) or a material resource per use cost. You can also create cost resources — a variable cost that isn’t calculated using a per-use or hourly rate but that may be used several times in a project, such as travel expenses. For example, if you assign a resource to work ten hours on a task, give that resource an hourly rate of $50, and you’ve added a $500 ...

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