Skip to content
Rate Models › Project Portfolio Management › Strategic Portfolio Management
Release: Australia · Updated: 2026-03-12 · Official documentation · View source

Create or modify a rate model

Create or modify a rate model that can be linked to a project or demand to determine planned costs and actuals for their resource. The rate model provides date-effective, criteria-driven hourly rates for these investments.

Before you begin

  • Choose the attributes to define the criteria in a rate model to derive hourly rates.
  • Define the budget reference rates for the non-functional currency for the required time periods.
  • Role required: pps_admin or it_rate_model_admin

Procedure

  1. Create a rate model.
OptionSteps
From Project Administration
  1. Navigate to All > Project Administration > Rate Model > All.
  2. Click New.
From Time Sheets
  1. Navigate to All > Time Sheets > Rate Model > All.
  2. Click New.
  1. On the form, fill in the fields.
FieldDescription
NameUnique name for the rate model.
ActiveOption for indicating the status of the rate model. Only active rate models can be assigned to a project or demand.
DefaultOption for setting the rate model as the default. You can set only one rate model as default. A default rate model is automatically associated to new projects and demands.
Rate model contextContext set for the rate model.Read-only system field.
CurrencyDefault currency for the rate lines in the rate model.
Rate typeOption for enabling the rate type attribute on rate lines in the rate model.When selected, Rate type is added as one of the attributes along with other defined attributes. For more information, see Rate type in labor rate card.
DescriptionShort description for the rate model.
  1. Click Submit.

What to do next

Add attributes from a set of predefined entities to define the criteria for rate model to derive resource cost.

Parent Topic:Rate Models