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Representing a fixed cost contract with a cost resource.

Home Forums Discussion Representing a fixed cost contract with a cost resource.

This topic contains 1 reply, has 2 voices, and was last updated by  jeff Heath 1 month ago.

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  • #430615 Reply
    Community
    Community
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    (reposting message from David Simon)

    Hello,
    I have subcontractor that has a fixed cost for a scope of work. This scope is broken down into multiple tasks. Is there a way to assign this subcontractor cost as a cost resource in project. Then assign that resource to the multiple tasks without having to split up that cost across the tasks?

    If I remember right there used to be a contract column for the resource sheet where you could select a fixed contract. Allowing you to represent a fixed cost contract with a cost resource.

    Thanks in advance.
    Stay safe,
    David

    #430675 Reply

    jeff Heath
    Member

    I would attack that situation like this:
    1) In the resource sheet, establish that resource’s rate as $0
    2) Also in the resource sheet, establish a cost resource name them Task 1, Task 2, Task 3
    3) Assign the “work” resource to the tasks
    4) At the bottom of the schedule let’s create a section called Invoices
    5) Under Invoices create 3 recurring milestone tasks. each milestone is aligned to the completion of the 3 tasks
    6) Assign the cost resources to the corresponding Milestone task
    7) Got Task Usage View, Insert cost column and plug in the resource’s expected cost for each of the cost resources
    8) Progress invoice tasks when the task is complete

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