Elements of cost is one of four components that define the pricing structure (estimating/ budgeting/burdening) of your company. The four components are:
Elements of cost (EOC) including classes of cost (COC)
Burden and fee codes, descriptions, and rates
Resource codes, descriptions, and rates
MPM supports up to 13 categories of EOCs. Three categories are predefined:
Labor
Material
Other Direct Costs
You can define your own EOCs, and delete the predefined EOCs if they do not meet your needs. A fourth EOC added by many MPM users is Subcontractor. You can use this EOC to track subcontractor costs.
You can define up to 13 classes of cost (COCs) for each EOC. For the Labor EOC, you might add COCs such as Administration, Engineering, and Manufacturing. You could also add COCs for each subcontractor.
EOCs and COCs are assigned to resources using the Resources tab on the Resources and Burdens window.
The Save Confirmations option (Tools » Options) will prompt you for each change you make to an EOC or COC. If you are entering a large number of EOCs and COCs, you may want to turn this option off to speed up data entry.
Whenever you make changes to an EOC after estimating, you must run the Rebuild Rollup function to ensure that the rollup data and the detail data are in sync.