Determining Cost
The team should have access to a standard costing table. This table will list all resources, unit of measure, and cost per unit. It is then just a simple exercise in calculating the cost per resource based on the number of units required and the cost per unit. Many organizations will have a spreadsheet template that will facilitate the exercise. These calculated figures can be transferred to the WBS and aggregated up the WBS hierarchy to give a total cost for each activity level in the WBS.
What If the Specific Resource Is Known?
Knowing the specific resource will occur quite often, and we are faced with the question: Should we put that person in the plan? If you do and if that person is not available when you need him or her, how will that affect your project plan? If he or she is very highly skilled and you used that information to estimate the duration of the activity that person was to work on, you may have a problem. If you cannot replace him or her with an equally skilled individual, will that create a slippage that dominoes through the project schedule? Take your choice.
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