This activity is used to specify parent cost elements for a selected Cost Breakdown Structure connected to your company.
When a Cost Breakdown Structure is connected to a Project and a Schedule of Work is created from that project, it will be allowed to use Parent Cost Elements defined here in Schedule of Work detail lines. Once a Parent Cost Element is selected on the Schedule of Work Detail line, it will be acting as a filter for Cost Element field in the same line.
Cost Breakdown Structure should be defined for your company.
Parent cost elements will be ready to be used in Schedule of Work Detail lines, when the respective Cost Breakdown Structure is connected to the project used to create your Schedule of Work.