Creating rates

Rates estimate the value of the service that is rendered by a resource. In project management, rates calculate the amount that is charged by management for resources on an hourly basis.
To perform this task, you must be assigned to an administrator role with the required security permission. For more information about roles and security, see EPM security settings.
When you create a rate, consider the following factors:

Typically, you create multiple rates for the resources. For example, the rate for an expert level Java developer is different from an associate level tester. Rates are associated to a resource or a profile. After the project manager allocates the resource or profile to a project, the rates become applicable for the project.

To create a rate:

  1. In the Admin area, click EPM Settings.
  2. From the Financial list on the left pane, click Rates, and then click the Add icon Add icon.
  3. Add the details of the rate in the following fields:
    • Name: Specify the name of the rate.
    • Description: Enter a description to the rate.
    • Cost Rate: Enter the cost price of the rate.
    • Selling Rate: Enter the selling price of the rate.
  4. Click Save.
  5. Optional: To add more resource rates, repeat steps 2 and 3
To modify a rate:
  1. Double click the appropriate field in the rate view.
  2. Make your changes and click Save.

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