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TRINITY PROJECTS

Microsoft Project Quiz

Part 4 · Resourcing and Costing the Project

Question 1

On the Cost tab of Resource Information there are 5 Cost Rate tables (A to E). Why are there 5 sets of cost rates?

  1. To enable you to create pessimistic and optimistic cost models of the project.
  2. To reflect changes in cost rates (pay rises) implemented during the life of the project.
  3. So you can enter more than one "estimate" of a resource rate when you are not sure about these costs.
  4. Resources who perform a selection of duties and have different rates for each duty can be included in the plan.

Answer: CorrectIncorrect

Although it is technically possible to do this, the 5 cost rates are not designed for this purpose.  To create optimistic and pessimistic cost models you should use custom fields.  This is an advanced feature in Project and is difficult to achieve in versions prior to Project 2000.

A cost rate change (pay rise) is modelled in a pay rate table, but this is not the function of the A to E cost rates.   These 5 rates are used when more than one cost rate is required for a resource.
A pay rise for a resource can be included in any of the 5 cost rate tables.  The starting rate of the resource is entered in the first row of the table.  The date of the first pay rise is entered in the second row, with the new rates included alongside.

The entering of several resource rate estimates will lead to a great deal of confusion and should be avoided.

A resource can have up to 5 different cost rates (A to E).  Where required an assignment can be changed from the default rate (A) to one of the others.  This type of change is made in the Assignment Information form.

Question 2