Project Rate Cards and Forecasting

Upon associating a Rate Card to a Project and defining the Roles for the Project Team members, the rates defined in the Rate Card are reflected in the Project Financial Planner, upon booking the resource against a Billable Task in the future.

Note: Rate Cards take precedence over the existing Role Forecast Rules. For further details refer to:

  1. Using the Weight Rule to determine the rate precedence and
  2. Using the Rate Precedence Rule Chart to determine the rate precedence.

Let’s assume a Project is associated with a Rate Card wherein each Role in the project has Rate Items in the active Rate Card. There is a Forecast Rate associated to one or more Roles (Setup > Organization > Roles > Role Edit > Forecast Rate).

In this case:

  • The Rate Card is more important than the Forecast Rate assigned to a user's Role. This means that the rates defined in the Rate Card take precedence over the Forecast Rate.
  • If there is a period when the Project does not have a Rate Card assigned, the Financial Planner will not have any data for that period. During those periods, the Forecast Rate assigned to the user's Role is completely disregarded.

Let’s assume a Project where the Forecast Rate is Overridden, and its date is set to start on January 1, 2023, without a specific end date.

In this case:

  • If you try to assign a Rate Card with an Effective date that overlaps with the overridden rate duration, you will see an error message. The Rate Card will not be assigned.
  • To successfully assign the Rate Card, you must either remove the Override or adjust the Start and End dates, so they don't overlap with the Effective date of the Rate Card you wish to assign.

Let’s assume a Project is associated with a Rate Card wherein each Role in the project has Rate Items in the active Rate Card. There is a Forecast Rate associated to one or more Roles (Setup > Organization > Roles > Role Edit > Forecast Rate).

A selection is made for the User Default Forecast Billing Rate and the Enforce Billing Rule Rate Association dependency to.

In this case:

  • The project revenue uses the rates defined in the Rate Card and any selection made for Billing Rules at the Financial System setup level are ignored.