What is Your Fully Loaded Cost?
Learn How to Easily Calculate Yours
If you sell services by the hour, or if you're an employee, you will often hear the term "Fully Loaded Cost" or FLC rate or Loaded Cost Rate.
Do You Know Your FLC?
Seems to be a lot of mystery about how to determine the FLC rate (which is not the same as your FLC price) of someone, as there are many decisions to make as to which costs should be included in any FLC rate. With our FLC cost calculator, we have developed simple heuristics (meaning shortcut) you can use to estimate the FLC of yourself or someone you might be looking to hire.
Our FLC rate calculator also allows you to:
- Find out how much revenue someone is expected to earn to cover their cost and meet your profitability targets.
- Run what if scenarios regarding utilization rates.
- Help achieve Financial Management Excellence.
- Know what the required hourly bill (consulting rate) rate is.
With our Fully Loaded Cost Template, which can also serve as a development cost calculator, you will have a powerful tool to help you develop cost estimates for one person or a 1000 person team so you never lose money on a project. When you're developing a project plan, if you want to Estimated Cost at Completion (EAC), you'll need to complete your Resource Sheet, and add in personnel cost, which need to fully reflect FLC rates to yield accurate results.
Use It To Determine FLC SAP Consultant Rates
The SAP FLC consultant rate is critical to understand. Though it varies with the consultant utilization rate which depends upon your consulting utilization targets, it is critical to know these rates and thus can be used as an ERP implementation cost calculator. Others have used this as an app development cost calculator, as application development can be accurately estimated with clear functional requirements.
It Is Also a Cost Calculator
We also have developed this to serve as an ERP implementation (or any other type of project) cost calculator. It provides all the information you need to do a cost estimate. SAP projects, when properly scoped, can be accurately costed using this tool.
As providers of SAP BW consulting, we use it to estimate BW cost for all of our projects as well as for full SAP ERP implementations. If you're a CIO, consultant rates can be a mystery to understand. This tool should help you understand the cost of SAP consulting.