From the course: Microsoft Project 2019 Essential Training

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Set up costs for work and material resources

Set up costs for work and material resources

From the course: Microsoft Project 2019 Essential Training

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Set up costs for work and material resources

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- [Instructor] Project uses resource cost fields to calculate project cost. If you don't track costs you don't have to fill in these fields. If you do track costs, let's go to the resource sheet and take a look at them. I'm gonna go to the view tab and then click resource sheet. We're gonna start by looking at standard rate. The standard rate for the project manager shows up as a value in dollars and a length of time. In this case, $80 per hour. That means there's a charge of $80 for every hour the PM is assigned to tasks. Well let's go down to the standard rate cell for the network admin. There's no value yet for this resource. I'm gonna type in 100 and then press enter. Project automatically adds the slash and hour to make it $100 per hour. The thing is you can use other time periods. For example the webmaster, right now it's set up as $70 per hour. But let's say you pay $1000 per month. I can type in 1000, the slash and then M-O-N for month. When I press enter, now I have a…

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