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Rate Matrix - Industry Best Practice

Question asked by vs00500773 on Dec 26, 2017
Latest reply on Jan 5, 2018 by Debroop Dasgupta

CA-PPM Version : 14.3

 

Can someone share the industry best practice for managing Rate Matrix?

 

Should we create new Rate Matrix line entry even if there is no change in the existing rate matrix (Rate or Class)?  For example:  Contractor "A" has the start date of 1/1/2017 and finish date of 12/31/2017 with the rate of $20.  

 

Option#1:  Extend the finish date to 12/31/2018

Option#2: Create new rate matrix record for the period 1/1/2018 to 12/31/2018 and keep the same rate.

 

What is the best practice?

 

I have few other questions:

 

  1. Is there any impact, if a resource is deactivated but the rate matrix is entered for future dates?
  2. Should we update the Rate 'finish date' to the resource 'termination date' when the contract is terminated?

 

Thanks

-Venkitta

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