What is cost rate in SAP CRM-RPL-SRV - Service Resource Planning?

SAP Term: cost rate

• Component: CRM-RPL-SRV

• Component Name: Service Resource Planning

• Description: Used within project costing to help define the best use of resources. The service resource planner can assign a cost rate to both resources and demands and then make scheduling decisions based on the cost effectiveness of specific assignments.

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• Key Concepts: 
  Cost rate is a term used in Service Resource Planning (SRP) within SAP Customer Relationship Management (CRM). It is a numerical value that represents the cost of a service resource, such as an employee or a piece of equipment, for a given period of time. The cost rate is used to calculate the total cost of a service resource for a given period. 
  
  How to use it: 
  The cost rate is used to calculate the total cost of a service resource for a given period. This can be done by multiplying the cost rate by the number of hours or days that the service resource was used. For example, if an employee has a cost rate of $50 per hour and worked for 10 hours, then the total cost would be $500. 
  
  Tips & Tricks: 
  When calculating the total cost of a service resource, it is important to consider any additional costs associated with the resource, such as travel expenses or materials. These costs should be added to the total cost calculation. Additionally, it is important to keep track of any changes in the cost rate over time, as this can affect the total cost calculation. 
  
  Related Information: 
  The cost rate is an important concept in Service Resource Planning (SRP) within SAP Customer Relationship Management (CRM). It is closely related to other concepts such as capacity planning and resource utilization. Additionally, it is important to consider other factors such as customer demand and market conditions when calculating the total cost of a service resource.