How to create a cost override for a specific expenditure type

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We have a requirement to always use a specific constant hourly rate for a specific expenditure type (Standy hours), regardless of the person or job, for all projects in a BU. Is the only way to accomplish this by creating a Cost Rate Override on every project?

Also, assuming that this is the only solution, it appears that this cannot be defaulted from the Project Template?

Thanks,

Brian

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