How useful is cost type in Project?

by Cecille Ramirez on February 17th, 2010

There are three (3) different types of resources in Project 2007. We have the usual, work and material types. The new one is cost type. With work, it is normally assigned to every resource that gets paid based on work rendered in hours, weeks or years. As for the material type, anything consumable is under this category.

Now, with cost type, remember there are tangible and non-tangible types of costing in every project. For example, how do we label airfare, meals, transportation and anything that incur cost? With the old timers work and material types, are they sufficient enough to do the labeling? Maybe this is what the cost type is all about.

To top that, another challenge for Project Managers is how to assign a budget roll-up to the entire project? This is what the budget attribute is for. I will cover this more in the next blog. It’s easier these days to accommodate all types of costing in your project. First, know the different types then decide whether we have to pair it with a budget attribute.

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