From the course: Microsoft Project 2013 Essential Training

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Updating costs

Updating costs - Microsoft Project Tutorial

From the course: Microsoft Project 2013 Essential Training

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Updating costs

When you enter actual values in Project the program takes care of calculating actual costs for work and material resources. However, if you use cost resources you have to enter actual cost for them. To see how Project handles labor and material costs, you have this view that has the tracking table applied and the task form in place. That way we can see the details about the tasks we select. So for example, I'm going to select the Prepare management presentation task. Now you can see that the Project manager is assigned to six hours and if there are 12 packets assigned and that's a material resource. But now I want to see cost. So I right-click the task form and choose Cost and now I can see the cost table. In this case, the scheduled cost is $540 for the Project manager, that's six hours at $90 an hour and the 12 packets cost a dollar 20 each, so the cost is $14.40. Now if I change the % Complete to a 100%, you can see the Project moves to scheduled cost into the actual cost fields…

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