In this article, we will review how to set a Charge Rate for resources per project.
This functionality may be helpful when it is required to set the Charge Rate for a specific resource per project instead of the Standard rate.
Please note: In this article, we describe the Resource dashboard sections for Project-level Resource Planning. If a Program or Portfolio level is selected on your tenant instead of Projects, all the settings and Resource Planning logic will be the same.
By default, when allocating a resource on the project the Standard rate value set on the resource dashboard is set to the Charge Rate field. The Charge Rate is taken into account when calculating the Estimated Charge for resources. If there is a necessity to change the Charge Rate value for a specific project this can be done manually from the Resource Plan project section.
Please note: Only users with Manage Financial Details permission can set the Charge rate for resources.
To set the Charge Rate for the resource per project, perform the following:
1. Open the project dashboard of the required project. Navigate to the Resource Plan section.
2. Click on the Configure Columns button on the right.
3. Add the Charge Rate and Estimated Charge fields. You can add the Estimated Cost field at once to see the whole picture.
4. Open the action menu for the required resource by clicking on the ellipsis button.
5. Navigate to the Set Charge Rate option and set the required rate. The Charge Rate value is saved automatically.
6. Now, the value provided becomes available in the Charge Rate field.
The Estimated Charge fields will be recalculated according to the Change Rate value.
The formula is the following:
- Estimated Charge (all planned hours * resource 'Charge Rate').
The formula for the Estimated Cost is the following:
- Estimated Cost (all planned hours * resource 'Standard Cost').
It is possible to set the Charge Rate from the Utilization section of the Resource Dashboard.
Please note: If the Standard Rate value was applied for the Charge Rate field by default in the Resource Plan section for the resource and then the Standard Rate value was changed on the resource dashboard page, the Charge Rate in the project Resource Plan section will still remain the same. If the same resource is then allocated for another project, a new Resource Rate value will be set for the Change Rate field.
However, if the Standard Cost is changed on the resource dashboard for the resource, the Estimated Cost will be recalculated.
Please note: When replacing the resources, it is possible to keep the Charge Rate of the replaced resource.
