To create a new cost index, navigate to the settings menu and select Cost Index Library. Then select New Index and add the necessary details, such as the name, the base year and the base index value.

Specify how you are going to update the cost index whether yearly, quarterly, or monthly. Finally, specify the base city for your custom cost index.

The next step is to add the city locations to which you want to add cost indexes. Simply click add location and search for the city name.

The next step is to add the cost index for every city year to year to reflect the cost change for your reference projects. Once done, click save, and then update, for the platform to calculate the percent difference year to year.

You can set this cost index as the default for all your projects.

You can go to a particular project and apply it in the normalization window.To accomplish this, click on the cost index tab, select the cost index you want to use, and click Apply.