Reviewing standard costs

Note: Not applicable if you are using Infor Learning Management.

Before you start accepting development activity requests, you can use this procedure to review and update the standard costs that will be used in calculating your budgets' estimated costs.

Select Development Planning > Set Up > Costs > Standard Costs.
To view or modify a standard cost, open the standard cost, modify any editable fields, and save.
To add a standard cost, click New, and select the option corresponding to the type of rate to use for the standard cost.
- Select Create Standard Cost Based on Flat Amount to define a standard cost based on a flat rate.
  
  See Defining and maintaining flat-rate standard costs.
- Select Create Standard Cost Based on Activity Specific Rate to define a standard cost based on a flat rate entered on the activity.
  
  See Defining and maintaining activity-specific standard costs.
- Select Create Standard Cost Based on Professional Rate to define a standard cost based on a professional category rate.
  
  See Defining and maintaining standard costs based on professional category rates (learning budgets only).
- Select Create Standard Cost Based on Resource Rate to define a standard cost based on a resource's other type rate.
  
  See Defining and maintaining standard costs based on resource rates (learning budgets only).