Project Management

DescriptionMost projects have fixed costs that have to be taken into account. These are such things as mortgages and other costs (assets, rent, etc.) that do not change with production. Fixed costs need to be accounted for in projects. If your project has fixed costs, complete the following steps.

Step 1: Update Microsoft Project with Fixed Cost Information

Go to the gray area at the top of the project on the duration column and right-click and choose Insert Column. Type in fixed cost column title and press Enter.
Enter the fixed costs above in the Fixed Cost column as listed adjacent to the appropriate tasks.
Step 2: Update Microsoft Project with Variable Cost Information

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. Follow the steps below to enter this data.

Resource Variable Cost List Instructions

Using the information below, 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.

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