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Project Budgeting - getting an actual $ cost for hours worked

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This is a bit of a combination of project pro and Project server. 

I have budget resources primarily Work and cost (but some material - they are IT projects)

Goal get an overall dollar cost for the project to use as a basis for approval (and even portfolio analysis with a custom field) 

  • I enter the "Cost resources as appropriate and get my dollar costs.
  • I enter my work resources as Hours and get total hours.
  • I need both because planners think of human work resources in terms of hours needed
  • This does not give me a "monthly" projected budget I can give to my finance folks because they don't know how to deal with hours

What would be ideal:

  • is to create a custom filed that would allow me to take the  total "Cost resources" in dollars, Then take the Work hours and multiply the total hours by some "blended rate $" to get a total cost for labor 
  • add them together
  • pop them into a "project Budget" custom field.

Has anyone  done this? If so I would like to know how. 


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