How do I configure cost types?

This article will show you how to manage the Cost Types. Cost Types are used in the Cost Planner, Cost Analyzer, and Cost Modeler. For each cost type, select which Cost Categories will be available, and how the costs are to be populated.

1. Cost Planner

For each Cost Type, you would determine which Cost Categories show. And, within each Cost View, you would set which Cost Types to show. The different List Apps may use different Cost Views for the Cost Planning Tools. For example, if you are doing portfolio cost & resource planning at the project-level, you may show both budgetary cost types, as well as resource plan and timesheet costs. Whereas, if you are doing cost planning only (not resource planning) at the portfolio/program level, you may show only budgetary cost types.

2. Navigate to Cost Types

  1. Select the Settings Gear icon on the Icon Bar.
  2. Under the Cost Management heading, select Cost Types.

3. Cost Types Menu Bar

  • To add a (create a new) Cost Type, click Add.
  • To edit a Cost Type's settings, select the desired Cost Type, and click Modify.
  • To delete a Cost Type, select the desired Cost Type to delete and click Delete.
  • To view or configure the cost total fields, select the desired Cost Type and click Cost Totals. (Refer to the article for Cost Types Totals)
  • To manage who has access to read and/or edit a Cost Type's data, select the desired Cost Type and click Security. (Refer to the article for Cost Types Security)
  • If multiple calendars are in use, you may post costs from one calendar into another. Select the desired Cost Type and click Post Options. (Refer to the article Cost Types Posting)
  • To manually post Cost Type data to its primary calendar, select the desired Cost Type and click Post. (Refer to the article Cost Types Posting)

4. Modify a Cost Type

All available Cost Types will show, whether they are in use in any Cost Views or not.

  1. Select a Cost Type to modify.
  2. Click the Modify button.

4.1. Modify Cost Type Settings

  1. Enter or modify the Cost Type Name.
  2. Select how the cost data will be created/maintained: This setting determines how the data is populatedinto the Cost Type, such as whether the data is manually entered into cost type or from somewhere else in the system. Frequently used options include Editable, Timesheet Actuals, Resource Plans, and Calculated from Other Cost Types.
  3. Select Open to Level in Edit Cost: This setting is applied for the initial opening level used in the Cost Planner for a new cost plan. The Cost Category levels will be expanded as far as the level selected.
  4. Select the Fiscal Calendar for Input:Select the calendar to use for this Cost Type. Typically you'd select the same calendar that you are using throughout the system in all the Portfolio Tools.
  5. Named Rate Visible: Check the box to show the named rate field for this Cost Type in the Cost Planner. When checked/enabled, a column for named rate will show in the Cost Planner, which is coming from the Rates Table page. Example: if you have Sr. Level and Jr. Level of a certain role indicated in the Rates Table, the cost plan can include the budgeted cost specifically for the Sr. Level or Jr. Level resource, as opposed to having the budget only specify the general rate for the role.

4.2. Select Custom Cost Type Fields

If you have any Cost Type Fields configured, you will have them available for selection in the Cost Type settings. Refer to the Cost Type Fields article for full instructions how to configure the Custom Fields.

4.3. Select the Cost Categories for this Cost Type

Check/uncheck the boxes for the various Cost Categories to show for this Cost Type. By checking/unchecking the box for a parent row, all child rows will automatically be checked/unchecked accordingly.

5. Save and Close Cost Type Settings

When finished, click Save.



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