1. Implementing Project Financial Management and Grants Management
  2. Rate Schedule Types

Rate Schedule Types

Schedule types determine usage for rates within rate schedules. You specify a schedule type for rate schedules created for costing, billing, or planning purposes in Project Financial Management applications.

The schedule types are:

  • Job

  • Person

  • Nonlabor

  • Resource class

  • Project role

Job

Job rate schedules contain rates used to calculate amounts for the following types of labor transactions:

  • Costing

  • Billing (invoice and revenue)

  • Planning

  • Budgeting

  • Forecasting

  • Transfer price

If you're using planning rates for financial or project planning, you can select a specific job rate schedule when configuring rate settings at the plan type or project level. Job rate schedules are used if rates can't be derived from the person labor rate schedule.

When creating a job schedule type, you must select a job set from Oracle Fusion Human Capital Management. The job set is the source of jobs in your rate schedule. Assign rates or markup percentages to jobs in the rate schedule.

Person

Person rate schedules maintain rates by named worker and are used to calculate the cost or price of project labor transactions. Person rate schedules have applications in project costing, billing, and planning activities. You can define rates for workers with active, terminated, future, or no assignments.

When you define a person rate schedule, the name of the person is mandatory, but you can optionally include a worker's job and organization from any one of their HR assignments. The list of values for person name is dependent on the From Date of the rate schedule line. In addition to person name, if a person's job is selected then the organization defaults from the same HR assignment from which the job was picked (although the default organization can be removed if required).

In summary, within a person rate schedule you can maintain rates at the following levels:

  • Person

  • Person and job

  • Person, job, and organization

For example, if a rate schedule entry exists for Person A, where only the person’s name has been entered, and another rate schedule entry exists where both the person’s name and job have been entered, the latter will take precedence. Highest precedence is for the rate schedule entry having values for person, job, and organization.

Costing: When a rate schedule is created for project costing purposes, the schedule contains raw cost rates that you can use to calculate the raw cost amount of a project labor transaction. For example, a person cost rate schedule may contain a rate of $100 for Person A. If person A enters a timecard for 8 hours, the calculated raw cost for that timecard would be $800.

Billing: When a rate schedule is created for project billing purposes, the schedule contains either a bill rate or a markup for each worker. You can use person rate schedules to calculate the revenue or invoice amounts for rate-based revenue or bill plans, or the transfer price of resources for intercompany billing. For example, a bill rate schedule may contain a rate of $150 for Person A. The bill amount for Person A’s timecard is calculated as 8 hours x $150 bill rate = $1200 (therefore giving a $400 margin). Alternatively, markup can be used to apply a fixed amount on top of the cost. For example, a person bill rate schedule may contain a markup of $25 for Person A. The bill amount is therefore calculated as $100 cost + $25 markup = $125.

Planning: Financial project plans, budgets and forecasts can be configured to either use rate schedules specific to planning, or to use the same rate schedules as actual cost and billing transactions. In either scenario person rate schedules may be used.

Nonlabor

Nonlabor rate schedules contain rates or markup percentages that calculate cost, bill, revenue, plan, budget, forecast, or transfer price amounts for nonlabor resources.

Enter a rate or markup percentage for expenditure types with the Rate Required option enabled. Otherwise, assign it only a markup percentage. Assign rates to nonlabor resources and optionally define rates for nonlabor resource organizations.

If you're using planning rates for financial or project planning, you can select a specific nonlabor rate schedule when configuring rate settings at the plan type or project level.

Resource Class

Resource class schedules contain the planning rates or markup percentages for a resource class or a combination of resource class and organization. You optionally assign a resource class schedule to a project plan or financial plan (budgets and forecasts) at the plan type level or version level. The resource class rate schedule determines rates for the associated resources if the rates can't be derived elsewhere.

Enter a rate or markup percentage for each resource class in the rate schedule. Optionally, assign the rate or markup percentage to a specific organization for a resource class.

Project Role

Use project role rate schedule to define bill rate or cost rate for a project role. You can assign them to project plan type or financial plan type.

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