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Project Risk Management and Decision Analysis 

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Setting up cost defaults 


You define fixed cost defaults in the Cost tab. These parameters are used when you create tasks (fixed costs) and resources (variable costs).
1. From the Tools menu, choose Options.
2. Click the Cost tab.
3. Enter in the scalar factors used to calculate default low and high fixed costs
4. Enter in the default rate for variable costs in the Variable Cost box. This is used when new work or material resources are created
5. If you want RiskyProject to calculate actual cost based on percent for work done (tracking information), click the Actual costs are always calculated by RiskyProject check box) Otherwise, you may manually enter actual data in Cost Analysis view.
6. Select the Currency symbol and format for any field with currency.
7. Enter default type of cost accrual. Cost accrual can be at the start of the task, at the end of the task and prorated.

• If cost is defined by low, base, and high values and risk for cost is used for the same task, it can cause a double count of the same risk factors.
• You can use any currency symbols, except for numbers, commas, and periods.
• You must define the particular unit for the default rate e.g. “hr” in the Units tab of the Options dialog box. By default, this unit is hours.

See also

Setting up your projects

Setting up calendar defaults

Setting up duration defaults

Setting up project management tool integration

Setting up your projects
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