What is activity price in SAP PLM-PLC - Product Lifecycle Costing?

SAP Term: activity price

• Component: PLM-PLC

• Component Name: Product Lifecycle Costing

• Description: Price for an internal activity. The price in a calculation version can either be set manually or automatically determined based on the master data.

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• Key Concepts: 
  Activity Price is a term used in SAP Product Lifecycle Costing (PLM-PLC). It is the cost of a specific activity or task associated with a product. Activity prices are used to calculate the total cost of a product throughout its lifecycle. 
  
  How to use it: 
  Activity prices are used to calculate the total cost of a product throughout its lifecycle. This includes the cost of materials, labor, overhead, and other costs associated with the production and maintenance of the product. Activity prices can be set manually or calculated automatically using SAP's costing algorithms. 
  
  Tips & Tricks: 
  When setting activity prices manually, it is important to consider all costs associated with the activity, including labor, materials, overhead, and other costs. Additionally, it is important to consider any external factors that may affect the cost of the activity, such as market conditions or changes in technology. 
  
  Related Information: 
  Activity prices are an important part of SAP Product Lifecycle Costing (PLM-PLC). Other terms related to PLM-PLC include cost object, cost center, and cost element. Additionally, SAP offers several tools and algorithms that can be used to calculate activity prices automatically.