Dear Community members,
I'm writing this article to show a simple relation between Resource Plans, Cost Plans, Time Cards & Expense Lines.
Let's understand terms in simple language
- Resource Plan - Project-related records where the project manager can manage and track resources requests.
- Cost Plan - Project-related records where the project manager can capture the costs of projects.
- Expense Lines - Project-related records where the project manager can track expenses incurred.
- Time Cards - Project-related records where project resources can record the time, against the assigned tasks.
Let's Understand relation in the simplest manner:
To make it simple we will consider only the Cost plan, Timesheet & Expense lines generated against project resource plan(we will not consider operational resource plan in the above scenario)
- Consider Project resource has been requested for 100 hours for the month of January.
- This will give you Resource Planned hours of 100 for the Fiscal period of Jan 2021.
- Using a labour rate card will also give you Resource Planned costs for a given fiscal period.
- Cost Plan gets auto-created as soon as the resource was requested.
- Cost plan can be created manually for other types of expenses too
- Whenever a resource plan is created at the demand or project level, the system will automatically create its corresponding cost plans with cost-type as "Labor Capex". (Refer My previous article for more details)
- When allocated/approved resources submit the timesheet and it gets approved this gives Resource Actual Hours
- When the timesheet gets approved, then it generates an expense line record in a pending state.
- Once Expense lines get processed using labour racecards, it gives Resource Actual Costs
- Approved Resource request hold all details like Resource Planned/Actual cost and Resource Planned/actual hours (dotted line represent the same in the above diagram)
- Cost plan too holds, Resource Planned/Actual cost details.
Please let me know if you enjoy reading this article.
Regards
Rajesh Singh
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