setting up cost per hour

[jking]

I would like to setup my costing to show a price per hour of usage. Ex. If I
have an hourly rate of 60.00 per hour and I spend 4 hours working on it the
cost would show 240.00 in cost. For some reason I can not get this to work.
There is so much info in this program it makes my head hurt.

 

[Rick Roszko]

Okay, you need to insert extra columns:

Add these to your Task (Gantt) View:

- Cost
- Actual Cost
- (Remaining Cost - not necessary, but it's there)

- Work
- Actual Work
- (Remaining Work - again, not necessary)

Likewise, you can use these in your "Resource Usage" view. You can show
Work and Actual work on the right panel (Right click on the right panel on
the "Resource Usage" view).

"Duration" does not necessarily equal "Work", so don't get confused there
either. For example, a task requires 4 hours of Work (as in "Work" = 4h) but
can be done anytime in the next week (as in "Duration" = 5d). There's more,
of course, but that should be a good start.

 

[jking]

Thanks for you feed back. I added the column like you said. I'm not really
sure what the deference is between work, actual work is. I guess work is how
much I have and actual work is how much can be done?. I'm still not clear on
setting up cost for work being done.

 

[Rick Roszko]

Sorry for the long delay to get back to you. I am just going through my list
of posts.

I for to add, you need to add $60 in the "Std. Rate" on the Resource Sheet.

Okay, as for the Work stuff:

Work = Scheduled Work by Project Manager

Actual Work = Work Done by Resource

There is a 3rd column "Remaning Work"

Actual Work + Remaining Work = Work

A Project Manager assigns 4 hours of "Work"

When the resource does the work, the resource enters, say 3 hours one day in
"Actual Work".

So, that's:

3h Actual Work + 1h Remaning Work = 4h Work

Remaining Work is calcualted by MS Project.

So when you look at "Actual Work" versus "Work", you know how much was spent
so far for that task.

Hope that sort of answers your questions...