Project Rates are the charge-out rates (or billing rates) you charge your client per project role in each project.
Runn uses Project Rates to calculate Project Revenue or T&M Benchmark based on the workload added to the project, and compares the Project Revenue or T&M Benchmark against your Project Budget to inform if you are over or below budget.
⚠️ Important Points to Note
Project Rates are defined at the project role level only (not person-level)
If you need to set a person-based rate in a project, consider the following workaround:
The Project rate applies to the entire duration of the project. If the project rate changes, the updated rate applies to both past and future work.
If your project rates for a project change every year, check out the suggested workaround here:
Default Project Rates
By default, the Standard Rate Card is selected when you create a project. This means the Default Rate of each role will be applied to each Project as the Project Rates:
How to set my Project Rates?
You may not always want to use the default rate for all projects. Here are ways you can set different project rates:
Option 1: Apply a custom reference rate card
If some of your projects use a consistent set of different rates, you can create a custom rate card. When the custom rate card is selected as the Reference Rate Card at project creation, the rates on that card will be applied automatically.
When creating a new project, select a custom rate card as the Reference Rate Card"
If you want to change the rate card of an existing projects, follow the instructions here: Changing the reference rate card for an existing project
Learn more about rate cards here: Rate Cards Overview
Option 2: Customize project rates for each project directly
If you don't have a set of consistent rates and would like to customize the project rates for each project, you can do so directly on the Edit Budget page for each project.
From the Project Planner, identify the project
Click the 3-dot icon next to the project name, select Edit Budget
Select the Project Rates tab
Update the Project Rate for each role
Please note that the Project rate applies for the entire duration of the project. If the project rate changes midway in a project, the updated rate applies to both past and future work and will change the historical revenue calculation.
