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Good Examples of Resource Cost Type values in lookup table RRS feed

  • Question

  • I have looked for but been unable to find a decent explanation of how the Resource Cost Type field and associated lookup table can be used for business purposes.

    Can any of those contributing to this forum provide examples of values they have employed to define or categorise Resource Cost Type?

    I have worked with customers in the past where we have included Opex and Capex as a Resource Cost Type value in a lookup table but I am sure there must be more imaginative ways this field can be employed in order to deliver more value from project data.

    I look forward to any suggestions from the Forum.

     


    With good wishes,

    Dominic

    Microsoft Project Evangelist

    Twitter:   LinkedIn:    Web:   

    Thursday, April 9, 2020 12:45 PM

All replies

  • Dominic --

    In the Project Online instance that I used to write the Managing Enterprise Projects 2019 book, I used the values Billable, Non-Billable, and Contractor in the Cost Type table.  Then I designated resources as either billable, non-billable, or contractors using the Cost Type field.  For example, executives might be non-billable, while a software developer might be billable. 

    Maybe others in this forum will have ideas for you as well.  Hope this helps.


    Dale A. Howard [MVP]

    Thursday, April 9, 2020 3:30 PM
    Moderator
  • To add on to what Dale said; some companies use the fields that are useful for the finance department, because they extract the data and push data into financial systems.   It might not be useful for a project manager, however, great for tracking cost within the company. 

    Michael Wharton, Past MVP, MBA, PMP and a Great Guy <br/> Website http://www.WhartonComputer.com <br/> Blog http://MyProjectExpert.com contains my field notes and SQL queries

    Thursday, April 9, 2020 10:11 PM
    Moderator
  • Dale,

    Thanks as always for taking the time to share the benefit of your knowledge and experience with Microsoft Project. I hadn't thought of your suggested billable and non-billable values - I guess I am so used to them being available in the timesheet element of Project Online that I had discounted these.

    As for Contractor, I have worked with quite a few customers where Contractor has been used as a value in an Employee Type Resource field, not a cost type field, so that companies have an idea how many contractors they have working and if needed how to search for resources that are not contractors when building teams on certain projects.


    With good wishes,

    Dominic

    Microsoft Project Evangelist

    Twitter:   LinkedIn:    Web:   

    Tuesday, April 14, 2020 7:12 AM
  • Thanks for taking the time to contribute Michael - the concept of cost centre codes is something I have had a reasonable amount of experience with over the years, as you say it may be of minimal interest to Project Managers but can be helpful to finance functions looking to appropriately ascribe costs.

    With good wishes,

    Dominic

    Microsoft Project Evangelist

    Twitter:   LinkedIn:    Web:   

    Tuesday, April 14, 2020 7:13 AM