Cost Unit Formulas
Cost unit formulas can be defined to calculate an asset components cost unit value according to a user defined algorithm based on the underlying attribute form and/or any defined smart attributes. When a cost unit formula is defined and in force, end users will be unable to manually set the ‘Cost Units’ value for asset components within that component group.
Consider the Surface component of a Local Road asset. The Intervention Treatment assigned to the component may have a Unit Rate that is based in square metres. Therefore, the units of measure for the component Cost Units would also need to be in square metres. This Cost Unit value can be set automatically by a Cost Unit Formula result.
Firstly, the organisation would need to define an attribute form with at least the following two (2) fields:
- Length: as a required, numeric field (possibly a smart attribute linked to a line length)
- Width: as a required, numeric field
With the attribute form assigned to the Road Surface component group, the organisation would then define the following Cost Unit Formula:
[Length] x [Width]
Assigning this formula as the component group’s Cost Unit Formula would then cause any assigned components to have an automatically calculated Cost Unit field that will react to changes to the Length and/or Width attributes.