T&M: Profit = Participant Chargeout Rate - Participant Costs (taken from participant/resource)
Set T&M Project Budgeting Method (by Time):
- Navigate to the Projects tab.
- Select the + icon to create a new project.
- Fill out the project details, specifying Select Budget Type to 'Time' (A) and hit Create.
- Navigate to the Project details, and click the Update Project icon (B).
- Select Budget Method - set to T&M (Participant) (C).
- Scroll down to Add resources to the project (D). The profit calculations will update on the project (E).
- Scroll to the bottom, and click Update to save your budget data.