You can use cost codes to budget and track cost in a project. A cost code represents a fixed activity or cost category.
You can use:
External codes, for example, based on an external standard or list. This can be required for external reporting.
Internal codes, for example, for reporting and analysis purposes.
A cost code is always linked to a cost code standard. To each project quotation and related projects, one cost code standard can be linked. You can do so on the project quotation work breakdown structure root node. In a project quotation and the related projects, you can only use cost codes of the linked cost code standard.
Cost code standards are, for example, provided by these organizations:
CSI (Construction Specifications Institute).
NAHB (National Association of Home Builders).
You can group cost codes for reporting and analysis purposes.