Dear Community members,
I'm writing this article to show the simple relation between Resource Plan & Cost Plan
Quick facts:
- You can create a resource plan at the demand level, project level, subproject & project task level.
- If you add a resource plan at the sub-project or project task level, it will auto-create its corresponding cost plan and roll up to the main project (parent task).
- If a project is created from demand then all the non-cancelled resource plans & cost plans will move to the project.
- Operational resource plans do not generate cost plans because it's not associated to project task
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- (In OOTB, Resource plans is against a particular task, whereas the Operational plan is against operational work(that is the reason why you see the tasks field is hidden in operational work))
- Project execution type Waterful, agile or hybrid model will not impact the resource & cost plan relation.
When you create a Resource plan, then...
- Whenever a resource plan is created at demand or project level, the system will automatically create its corresponding cost plans with cost-type as "Labor Capex"
- 'Planned cost' of resource plan must be same as the 'total planned cost' of cost plans
Q. How Planned Cost is calculated?
Ans. Planned hours * hourly rate.
Q. How Total Planned Cost is calculated?
Ans. Unit cost * Quantity.
When you modify a Resource plan, then...
- When resource plans are modified and cost plans do not get updated, then please do use the "Update cost plan" related link item on the resource plan (after updating the resource plan) to update the cost plan.
- However, the cost plan associated with a resource plan is automatically updated as soon as the Planned cost in the resource plan is updated. The planned cost on resource plan gets updated when there is a change in:
- Planned hours
- User
- State
- Start and end dates
When you cancel a Resource plan, then...
- Whenever you cancel the resource plan, Two things will happen
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- Resource plan, the planned cost will change to zero and state will change to Cancel
- And its corresponding cost plans 'total planned cost' amount will be zero
Few important business rules related to Resource & cost plan:
- Calculate Demand/Project Allocated Cost
- Calculate Demand/Project Planned Cost
- Create Cost Plan
- Recalculate Cost For Operational Plan
- RecalculateCostWhenResourceRateChanged
- UpdateCostPlanAssociatedToResourcePlan
I hope you liked reading this article, I tried to make this article easy for everyone to read and digest. Stay tuned for more articles on the relationship between cost plan, timesheet & expense lines.
Regards
Rajesh Singh
