Most projects have fixed costs to account for. These are such things as mortgages and other costs that do not change with production. Fixed costs need to be accounted for in projects. If your project has fixed costs, follow the following steps.
The following steps should be followed when setting up your project fixed costs with Microsoft Project:
Most projects have variable costs. These are costs that change with the amount of work being done. These are commonly seen as dollar per hour costs. Most of your resources will be dollar per hour costs. Follow the steps below to enter this data.
Using this information, go back into the Resource Sheet to update the hourly rate for each resource.
– Click on View. Click on the Resource Sheet icon under the Resource Views section. The resource sheet icon is the middle icon on the right of this view with two heads. Check to make sure the Type field is Work and enter the dollar amount above for the hourly rate for each resource in the Std. Rate column.
-To access various reports with cost and other information select Reports under the Project