In Resource window -> Details tab, there is an selection box called “Currency”.
What does it do? I’ll explain it in this article.
By selecting the currency in that box, it determines in which Currency the Resource will be paid with. The setting locks the Price/Unit in that Currency regardless of change in the Exchange rates.
By default, this field displays the View Currency selected in User Preferences when the Resource was added.
For example, we hire the “Test” resource from India and we will pay him in Indian Rupee.
So I will select Indian Rupee.
I will pay him 300 Rupee / hour. So I will switch to display in Rupee to enter data.
Go to Edit -> User Preferences -> Currency. Select Indian Rupee
Go to Units & Prices and enter 300
From now on, even the Exchange rate change, Primavera will increase or decrease Price/Unit in USD so that it will always equal to 300 Rupee.
We switch back to USD to see the value.
Go to Edit -> User Preferences -> Currency. Select USD.
It show 7.38 USD. (1 USD = 40.67 Rupee)
Now Exchange rate will change. 1 USD = 50 Rupee.
Go to Admin -> Currencies. Change from 40.67 to 50. And click Close
Now we can see the Price/Unit in USD decrease to 6 USD.
New Price/Unit = Old Price/Unit (7.38) x = 6 USD
And if we switch to Indian Rupee, we can see it is still 300 Rupee.
So, by selecting Resource Currency we can lock the amount of money we pay.
Even the Exchange rate change, the Price (in Resource currency) will not change.
Great blog. And what a learning platform for beginner planners like me.
Thanks Zain. I’m very happy when you enjoy my blog 🙂
This are really great lesson thank u, Can you please explain to me in detail how to load cost/manpower on primavera for project that has thousands of activities without having to do it one after the other using BOQ and spreadsheet.
I hope Top down estimate function can help you a little bit. You can read it here https://doduykhuong.com/2016/07/08/how-does-top-down-estimation-in-primavera-p6-work/
It may not have a exact assignment like we import from excel. Currently I have not researched into it. When I do, I will post it on my blog.
Great job Dodukhuong..
A quick question – I have made a schedule with total “X” amount. However when same schedule I have imported to other system it shows total “Y” amount, currency is same. What could be reason?
Maybe the Price/Unit in other system is different.
Budget cost = budget unit x Price/Unit.
You can check those element between 2 system to be sure they are identical.
Very Nice Blog … very Useful … no words for thanks .. you are spreading great knowledges …