How to manage rate card changes for a new fiscal year in resource plan

[Shubham21]

Hi Everyone,

Hope you're doing good.

We have a requirement to manage rate card changes for new fiscal year and curious to know how can we inhibit such changes with open Resource plans.

For e.g. RP is open for FY22 and ends in FY23, if there are changes in rates for a resource in FY23, we want new rate to be applied on the RP.

I know these changes can be made introducing forceful scripts changes on RP, Resource & requested allocation, but I am looking forward to hear, If any OOB solutions can be used for these corrections.

Suggestion and advice are welcome. Please feel free to reach out if anyone had come across similar requests.

Regards,

Shubham

[Namita Mishra]

Hi @Shubham21 ,

You can use OOTB 'Recalculate Resource Costs' action to recalculate the cost of all the resource plans at one go for a particular project / demand.

This action can be accessed by right clicking the project banner, as shown in the below screenshot.

Once you select this option, using the pop up you can decide either confirmed / allocated cost need to be changed or also the planned cost. 

As a Best practice, I would recommend NOT to update the planned cost of confirmed / allocated RPLNs on updating the cost in the rate model.

 

If the response is able to solve your query, please mark the response as correct / helpful.

Thank You!

Namita Mishra

[Namita Mishra]

Hi @Rose J Lever ,

Just wondering if the provided solution resolved your query.

If yes, please mark the answer as correct. This will help other community members as well in referring the correct answer.

Happy Holidays !!

Namita Mishra

[Shubham21 · Accepted solution]

Hi Namita, 
Thanks for your response. Sorry to miss but we were using Labor rate cards instead of rate models and that is the main reason we fell into this issue. The recalculate UI action will not be helpful for such actions. So we used fix scripts to update only future sets of allocations.

Takeaway and lesson learnt is to use Rate Model and define rate lines for each year and utilize OOB recalculation options for such requirements.

Regards,
Shubham

[Namita Mishra]

Hi @Shubham21 ,

Thanks for clarifying the situation.

To get detailed information about rate line, please refer to docs link

Thank You!

Namita Mishra