AnsweredAssumed Answered

Standard Cost on Rate Matrix

Question asked by havard114 on May 29, 2014
Latest reply on Jul 29, 2015 by Dale_Stockman

Hi All,

I am doing research on 3 different values available on the Rate Matrix. 

The values are -

1. Actual Cost

2. Standard Cost

3. Rate

I have created a dummy project (and a cost plan within the project) and posted time. On the cost plan I see results that - from what I can tell - are calculated using the Actual Cost and Rate numbers on the Rate Matrix. I cannot find any instance where the Standard Cost is used to calculate results. Does anyone have any guidance on how Standard Cost relates to Cost Plans in a project? For some background - I was given this research item because a customer would like to manage financials in Clarity, but they utilize three different cost values (I was trying to determine if the three different cost/rate values listed above might be utilized as a potential solution); however I cannot find an example of the cost plan using the Standard Cost from Rate Matrix. Any thoughts/feedback are appreciated.