The User must now fill in the missing Items in the target Job File that were not priced from the Rate Library, from an external source. If the Items Variance is inside the thresholds the default response is Y for yes, otherwise it is N for no. Rate Library Maintenance Rate libraries are designed to roll. As new later data is entered 'at the top', much earlier data should be deleted 'from the bottom'. Although inflation indices reduce the errors generated by inflation, very old rates do get significantly out of step.
Facilities exist for deleting rates by date, source job or code range.
There are also corrupt Rate Library recovery routines supplied with Qumic. A Rate Library Analysis routine shows the range of data in the library to aid the user in maintaining a sensible library in terms of both size and content. The difference between an item's Adjusted and Predicted Rates is called the Variance. Rates which are transferred are subjected to a source job loading. There are normally several rates from different jobs and dates which are amended with inflation indices then averaged, then amended with target and area loadings to form the final target rate.