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Updating Std. Rate for Inflation

Updating Std. Rate for Inflation

Updating Std. Rate for Inflation

Good afternoon. I do project estimating and have begun using MS Project over the last four months instead of Excel for it's ability to integrate schedule and costs. I have developed a Project template that I use to start each estimate. Because many of the estimates use the same labor and materials, as I receive quotes and project actuals, I add the rates and material costs to the original template so that they are available for the next estimate.

When I would use Excel for estimating, I used a formula that applied an average inflation value to the cost based on the age of the cost data. In Project, I have learned how to make a custom cost column in the Resource Sheet that compares the current year with the date of the cost data (in the Std. Rate column) and return a modified cost value in the custom column. I would like for the Gantt Chart to use my custom inflation-adjusted column to calculate the project cost rather than the default Std. Rate column.

Is it possible for the Gantt Chart to use my custom cost column to calculate project cost?
If so how?

If not, can anyone recommend a method for updating all Std. Rates automatically as opposed to manually entering "Effective Date" values for each resource in their Resource Information Dialog boxes?

Thanks in advance for any recommendations.

I used to count sand. Now I don't count at all.

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