Effectively manage resource costs, track profitability, and optimize project management with comprehensive cost management features.
Understanding Resource Costs in Keka PSA
Managing resource costs is crucial for successful project management. Keka PSA empowers organizations to track and analyze resource costs, enabling informed decision-making and improved profitability.
Effective cost management is essential for the success of any project, and understanding the costs associated with resources is a vital component of this process. The cost of resources typically refers to the expenses a company incurs for each resource, primarily comprising their salaries. These costs can be structured as fixed annual salaries or calculated on an hourly basis. However, due to the confidential nature of payroll information, access to this data is often restricted within organizations.
Assigning Costs to Resources
To assign costs to resources, first navigate to the "Project" section and select the "Resources" tab. Next, click on the "Cost & Availability" option. From the list of resources, choose the specific resource you wish to edit. Click the three dots in the Actions column, then select "Edit Cost & Availability."
In the pop-up window, enter the currency, choose the rate type (either hourly or fixed), specify the rate, and set the effective date. You have the option to assign multiple costs to a single resource as needed.
Note: It is not possible to assign costs that share both the same currency and the same effective date.
Bulk Assigning Costs
Use the bulk import feature to efficiently assign costs to multiple resources at once.
Download the Excel template, fill in the required details, and upload it.
Please note that all columns marked in red are mandatory, so ensure you complete these fields accurately to avoid any issues during the import process.
Upon uploading the Excel sheet, you will encounter two additional tabs.
The first tab, titled "Match Column," allows you to verify that each column aligns correctly with the corresponding information. Should any discrepancies arise, you have the option to disregard the mismatched column, preventing it from appearing in the portal.
The second tab, "Preview Data," enables you to review the data before it is finalized for upload, ensuring accuracy and completeness.
Heading 4: Analyzing Resource Costs and Margins
Paragraph 4:
- Resource Cost and Margin Report: This report provides insights into resource financials, including rate cards, billable hours, and associated costs.
- Access the Report: Navigate to "Project" > "Analytics" > "Reports" and select "Resource Cost and Margin."
- Run the Report: Apply filters and click "Run" to generate the report.
Conclusion:
Keka PSA's cost management features enable you to track resource costs, analyze profitability, and make data-driven decisions. By effectively managing resource costs, you can optimize project management and improve your organization's financial performance.
To explore further insights into your financial management, including an in-depth look at cost and margin charts, please click here: Deep Dive into Your Finances: Introducing Cost and Margin Charts