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Customised Rates in MSProject?

3 replies [Last post]
Tue, 2008-02-05 01:41
Steve Grimmett
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Hope you folks can help.
For one reason and another I have the need to represent in the Gannt view both the Salary Costs and the Contract Values of my tasks.
Currently I have achieved this by setting my salary costs as my Standard Rate in the Resource Sheet. Contract Value is achieved by using custom cost fields. Cost1 is the charge out rate (daily) and Cost2 is calculated by Cost1 x Duration to derive Contract Value. The problem I’m getting is that the results of this calculation is 480 time what I expect. Eg, 20 days duration with Cost1 set at $100 yields $96,000 instead of the expected $2000. It is almost as if the calculation is taking Cost1 as a cost per minute figure. At the moment I’m converting this to daily rates by dividing by 480 but this is an inelegant solution.

If anyone can provide me with a more elegant solution I would be most grateful. Does MS Project allow for customised rates and if so how do I set these up?
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Replies

Thu, 2008-02-07 16:50
#1
L.E.N. Lewis
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Using 480 works only if you are using an 8-hour day. If you use a different day length then the numbers calculated will be inaccurate. Instead, use [Minutes Per Day] which will work regardless of the day length.

You can get to this field in the formula box by clicking on the Field button then on Project and Number and, finally, on Minutes Per Day. You can also simply type in [Minutes Per Day] (note the embedded spaces).
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Wed, 2008-02-06 06:53
#2
Vladimir Liberzon
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Steve,
do you pay larger contract cost for activities that took more time than expected?
Usually contract cost is based on fixed price or unit (unit of quantity) price of project activities.
Vladimir
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