From the course: Microsoft Project 2013 Essential Training

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Setting up costs for work and material resources

Setting up costs for work and material resources - Microsoft Project Tutorial

From the course: Microsoft Project 2013 Essential Training

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Setting up costs for work and material resources

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When you fill-in Cost fields for Work and Material resources, Project uses them to calculate Project costs. The labor cost for an assignment is the assigned work resources cost rate multiplied by the amount of time assigned. For material resources, the cost is the rate multiplied by the quantity assigned. So let's go to the Resource Sheet. On the View tab, click Resource Sheet. I can see that the Office manager doesn't have a Standard Rate assigned, so we'll have to add one. Just click the Standard Rate cell and if the Office manager is $60 an hour, you can type 60 and press Enter. You can see that Project automatically adds the Slash (/) in the hour. But you can actually assign resources by other time periods. Let's say that the Webmaster is a contractor and you actually pay her a $1000 a month to maintain the website. So in the Standard Rate cell, type a 1000, the Slash (/) and then mon for month, and press Enter; and from now on Project will use a $1000 a month to calculate how…

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