One area that should already be configured as a part of establishing a UniPhi installation is to ensure that Charge and Cost Rates and Standard Working Hours are recorded for internal team members.
It is important that all of the following information is entered so that UniPhi able to make the necessary calculations for Resource Planning. From the Resource Pool or Resource Project Team screens select the relevant resource.
The Employment details card includes fields for the Default Charge Rate, Default
Cost Rate, and Standard Hours worked (per day).
For Resource Planning and Project Costing / Profit Reporting it is important that the Standard Hours, Charge Rate and Cost Rate fields are completed.
Unless there are specific circumstances, i.e. a permanent part time role, generally an 8 hour day is assumed. The standard hours are used to calculate Equivalent Full Time (EFT) staff loading for the business in Resource Planning and standard cost calculations.
The Charge out rate is the specified rate at which each individual team members hours will be charged out, e.g. to a client. The Cost rate is an internal rate that should include all on-costs to employee that person. Both of these specified rates are used for calculation of Standard Charge and Cost values and are utilised in Reporting and Resource Planning to assist in calculating various profit or variance reports.
The Cost Rate should include all costs to employ and support the staff member. It is a calculation that the business can use to form a baseline costing for ‘keeping the doors open’
Rate History is maintained for both Charge and Cost rates and historical reporting will reference the appropriate periodic changes.
Typically, standard hours should be based around a 40 hour week. Variations to this make reported values complex and when assessed over a 6 month period in a macro view of hours have minimal impact on overall business / project resource planning.
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