---
sourceDocument: Australia Strategic Portfolio Management
sourceDocumentLink: https://www.servicenow.com/docs/r/it-business-management

 Release :

    - australia

ft:locale :

    - en-US

ft:publication_title :

    - Australia Strategic Portfolio Management

ft:clusterId :

    - itbm

bundleId :

    - itbm

workflow :

    - Technology


---

# Manage costs

# Manage costs {#ariaid-title1}

* Release version: Australia
* 
* Updated March 12, 2026
* 
* ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read

When the cost management feature is enabled, time cards can be used to manage the cost
of labor in the Cost Management application.

When a time card for a project task is approved, an expense line is generated for the
corresponding labor cost associated with the project. If the project has a [Rate Models](https://www.servicenow.com/docs/WNXtx9kRLnPR1FfC0gIn3A "Use a rate model to derive date-effective, criteria-driven hourly rates for calculating planned and actual resource costs for a project or demand.") associated, then the hourly rate for calculating labor cost for the expense
lines is derived from the rate model. If no rate model is associated to the project, the rate
listed in the Labor Rate Card is considered. If no Labor Rate Cards is
applicable, the property com.snc.time_card.default_rate defines the default
hourly rate.

## Roles

The timecard_admin role enables users to approve, modify, and delete the time cards of other
users.
**Related tasks**   

* [Activate Cost Management](https://www.servicenow.com/docs/ZCD71sYZtLR~Pixcm0J17w "Activate the Cost Management plugin (com.snc.cost_management) using the admin role.")