A deeper understanding of resources and costs

We have used basic resource concepts extensively in all the hands-on projects we've covered so far; that is, every time we assigned a task to a person. We also studied the fundamentals of resource management in Chapter 5, Resource Management with Microsoft Project.

In this chapter, we will learn about the advanced features of resource management within Project. Resourcing is tightly integrated with the costing abilities of Project. Costing can be calculated based on any financial terms used commonly in real-life situations. Some examples of this include a standardized rate of pay for full-time employees, one-time fees for services rendered, fixed costs for licenses, raw material costs, or even variable charges such as airfare ticket costs and hotel booking charges. These different costing techniques are mapped to the resource types classified within Project. Refer to the following screenshot:

Figure 15.1...