Learn different ways on how you can calculate various fee types in Coincraft project table.

This article provides an overview of different methods to calculate fee types in project management applications.

The percentage fee method involves assigning a certain percentage for each phase of your project so that the total adds up to 100%. This method enables easy scaling of fees. For instance, to calculate a 10% fee for a million-dollar project, simply enter '1000000*0.1' (representing 10%) in the 'Total Fee' field and press [Enter]. The system will then adjust the remaining fees, maintaining the same ratio.

For phases where a fixed fee is charged per month, you calculate the total fee by multiplying the monthly fee by the number of months.

The 'Estimate Hours of Phase' method operates by utilizing the charge-out rate for the fee. Link the charge-out rate to the resource, and when you change the hourly budget value, the system will automatically update the fee.

Note: It's crucial to provide values for estimated hours wherever possible. Leaving this field blank (zero) results in a more inaccurate computation and forecast. The 'Estimate Hours of Phase' method is particularly useful when multiple hourly rate phases are running concurrently, as it can prevent over-resourcing.

With these methods, you can effectively manage various fee types in your project management application. If you have any further questions, please feel free to ask.