{"id":7715,"date":"2022-04-02T04:04:45","date_gmt":"2022-04-02T04:04:45","guid":{"rendered":"https:\/\/www.nimblework.com\/knowledge-base\/nimble\/?post_type=article&p=7715"},"modified":"2025-08-04T13:52:10","modified_gmt":"2025-08-04T08:22:10","slug":"cost-definition","status":"publish","type":"article","link":"https:\/\/www.nimblework.com\/knowledge-base\/nimble\/article\/cost-definition\/","title":{"rendered":"How to Add and Manage the Cost Definition"},"content":{"rendered":"

In this article, we will help you to understand how to add and manage the cost definition.<\/p>\n\n\n\n
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Skip Ahead to:<\/strong><\/p>\n

Overview<\/a><\/p>\n

Navigation<\/a><\/a><\/p>\n

Add and Manage Cost Definition<\/a><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Overview<\/h2>\n

Cost Definition in the application makes it easy for organizations to find the resources of each persona with the required location and skill sets against the cost, and the cost of resources can vary from location to location. The Resource Managers\/Admins maintain the cost of resources at the monthly rate for different roles. The cost can be updated periodically in USD effective from a particular date.<\/p>\n

Cost Definition gives a complete picture of resource Location<\/b>, type of Persona<\/b>, Skill Premium, Cost, <\/b>and Effective Date <\/b>to plan projects that reflect realistic resource capabilities and assignment durations.<\/p>\n

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<\/a>Navigation<\/h2>\n

In the left navigation panel, expand the Apps<\/strong> menu and select the Account Space<\/strong>. <\/a>Hover over the top breadcrumb, expand the People Management<\/strong> module, and select Cost Definition<\/strong>.<\/p>\n

How to Add and Manage the Cost Definition<\/h2>\n

Prerequisites:<\/strong><\/p>\n