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Difference between planned time on a project and Allocated time

Hi

I have tried searching SuiteAnswers though couldn't find a definitive answer,

What is the difference between planned time on a project and allocated time?

Is one of them sourcing from the resource (allocated time) while the other is sourcing from the task itself?

How is the daily allocated time calculated? (i.e. 3.17 hours in the above screenshot)


thanks

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