How are bill rates and cost rates using in project requests and projects?

Question

How are bill rates and cost rates used in project requests and projects?

Environment

Work Management > Portfolio Planning

Work Management > Projects

Answer

Project Requests 

Project Request > Role Forecasts

Role forecasts are populated with functional roles and can be further be defined as specific named resources. 

When a Functional Role is added to a role forecast, the projected budget is calculated by  HOURS x COST RATE of the functional role.

When a specific Named Resource is added to a role forecast, the projected budget is calculated by  HOURS x COST RATE of the Named Resource.

• Changes to the bill rate in the user's profile will not impact requests where the user was previously added, but will be reflected if they are added to new requests.

The total calculated amount for all role forecasts will populate the Time Budget.

Staff Project Request > Convert to Project

When the project request is Staffed, you must add resources to any roles that have been forecast. Adding or changing resources at this time does NOT change the projected Time Budget even if the resources have different rates. 

The initial Time Budget for the project will be set based on the Role Forecast Calculations.

The Bill Rate for each resource will be set to the current Bill Rate in the user's profile.

Projects

Role Forecasts

After a request is converted to a project, the role forecasts section is read-only and shows the original forecasts from the project request.  

General > Time & Expense > Time Budget 

The time budget is initially set when the project request is staffed, but can be manually updated by a project manager. Changes to project resources and allocations will not automatically update this budget.

Resources

Anytime a resource is staffed or added to a project. the bill rate for each resource will be set from the bill rate on the user's profile. 

• Bill rate may be changed for any resource on a project-by-project basis.
• Changes to the bill rate on the user's profile will not change the bill rate for existing resources on projects, but will be reflected if the resource is added to other projects.