Rates estimate the value of the service that a resource
renders. In project management, you can use rates to calculate the
amount that management charges per day for resources.
About this task
The parameters for defining rates depend on the business
needs of the organization. When you create a rate, you might consider
the following factors:
- The necessary roles
- The amount of work that is involved
- The required skills and experience
- The duration
- The location of the resource
Typically, you create multiple rates for resources. For example,
the rate for an expert level Java™ developer
is different from that of 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:
Procedure
- In the Administration view, click Project Management
Administration.
- In the left menu, click Rates, and
click the Add icon
.
- Add the details of the rate in the following
fields:
- Name: Enter a name for the rate.
- Description: Enter a description of
the rate.
- Cost Rate: Enter the cost price of
the rate.
- Selling Rate: Enter the selling price
of the rate.
- Click Save.
What to do next
You can modify a rate only if you
have not assigned the rate to a resource or profile. However, you
can modify the rate for a user or profile that is not assigned to
any project.
To modify a rate:
- In the Rates viewlet, double-click the appropriate field.
- Make your changes and click Save.
If you have assigned a rate to a resource or profile,
you cannot delete that rate. To delete the rate, first disassociate
the rate from the resource or profile.