When a resource is assigned, the average booking rate is used to calculate assignment costs.
Average Booking Rate = Total Booking Cost / Total Hours for the entire booking row selected while assigning the resource.
Labor Cost (for a resource assignment) = Total Assigned Hours x Average Booking Rate.
After assignment, the booking rate may change as changes occur to the booking sheet. These rate changes will not automatically affect the assignment (labor) costs stored in the schedule sheet.
You can update resource rates on the master schedule sheet and also update the project or shell cost sheet with corresponding assignment costs. The active currency exchange rate at the time of assignment will be used.
The update has two options:
- Resource Utilization: This updates resource rates only.
- Resource Utilization and Cost Manager: This updates resource rates on the schedule sheet and posts costs to the cost manager. This option is only enabled on the master schedule sheet.
To update rates on the schedule sheet
- Open the master schedule sheet.
- Choose Edit > Update > Resource Utilization. Labor costs on the entire schedule sheet are recalculated based on the latest average booking costs and exchange rate.
To update costs on the cost sheet
- Open the schedule sheet.
- Choose Edit > Update > Resource Utilization and Cost Manager. Labor costs are updated and posted to the cost sheet (column with labor cost data source) based on the CBS codes and split percentage specified on each activity. The existing cost in the cost sheet columns will be replaced by new values. Similarly, any values in the Fixed Cost, Non-Labor Cost, and Total Cost columns in the schedule sheet will be posted to corresponding data sources on the cost sheet.