Estimated Labor Cost (workspace field)
Derived workspace field: The total estimated internal cost of workspace (based on resource requirement estimates).
Estimated Labor Cost = resource type's internal rate * requirement hours
Notes:
- Rates are based on the appropriate billing rate for that day.
Example: If your billing rate changes from $100 to $110 on April 1st, the Estimated Labor Cost will use the $100 rate for all requirement hours prior to April 1st, and the $110 rate for all requirements on April 2nd and beyond.
- Rates can be set at different levels, for more information see Billing Rate Inheritance Overview.
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