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Hour 9. Defining Resources and Costs > Defining Your Resources and Costs - Pg. 138

Defining Resources and Costs 138 Therefore, the project schedule changes from the baseline values as you track actual performance, and you can compare the new estimates with the baseline to gauge how well you are doing. You can detect cost overruns or the possibility of not finishing on time while there's time to take corrective action. When the project is finished, you will have replaced all the estimated dates and costs with actual dates and cost. The baseline values can be compared to the final actual values to see how you did overall and what lessons can be learned for future projects. Scheduled, Budgeted, and Actual Costs --Project managers generally have to keep costs in line with a budget for the project. Budgeted costs are shown as baseline costs, and comparing the baseline and actual costs as the project progresses is important to cost containment. In this hour, you learn how to create the pool of resources you will use for the project, how to define when those resources are available for work, and how much the resources cost. In the following hours, you learn how to assign individual resources to work on specific tasks and how Project then schedules the work around the availability of the assigned resources and calculates the cost of each task based on the cost of the resources that do the work. Defining Your Resources and Costs This section gives you a general understanding of resource and cost terms. The next section is more specific and uses the terms to define your resource pool. Defining Resources and Their Availability You can create a list of resources to work on your project, or you can use the resource pool already created in another project. In this hour, you learn how to create a resource pool in the current project. (You can also refer to the section "Sharing Resources Among Projects" in Hour 19, "Working with