diff --git a/src/blenderbim/blenderbim/bim/module/cost/__init__.py b/src/blenderbim/blenderbim/bim/module/cost/__init__.py
index b2188023b7..fce0105e0a 100644
--- a/src/blenderbim/blenderbim/bim/module/cost/__init__.py
+++ b/src/blenderbim/blenderbim/bim/module/cost/__init__.py
@@ -65,6 +65,7 @@ classes = (
     operator.LoadScheduleOfRates,
     operator.ExpandCostItemRate,
     operator.ContractCostItemRate,
+    operator.CalculateCostItemResourceValue,
     prop.CostItem,
     prop.CostItemQuantity,
     prop.CostItemType,
diff --git a/src/blenderbim/blenderbim/bim/module/cost/operator.py b/src/blenderbim/blenderbim/bim/module/cost/operator.py
index c9807fb922..4d08f98010 100644
--- a/src/blenderbim/blenderbim/bim/module/cost/operator.py
+++ b/src/blenderbim/blenderbim/bim/module/cost/operator.py
@@ -1054,3 +1054,21 @@ class ContractCostItemRate(bpy.types.Operator):
         props.contracted_cost_item_rates = json.dumps(contracted_cost_item_rates)
         bpy.ops.bim.load_schedule_of_rates(cost_schedule=int(props.schedule_of_rates))
         return {"FINISHED"}
+
+
+class CalculateCostItemResourceValue(bpy.types.Operator):
+    bl_idname = "bim.calculate_cost_item_resource_value"
+    bl_label = "Calculate Cost Item Resource Value"
+    bl_options = {"REGISTER", "UNDO"}
+    cost_item: bpy.props.IntProperty()
+
+    def execute(self, context):
+        return IfcStore.execute_ifc_operator(self, context)
+
+    def _execute(self, context):
+        self.file = IfcStore.get_file()
+        ifcopenshell.api.run(
+            "cost.calculate_cost_item_resource_value", self.file, cost_item=self.file.by_id(self.cost_item)
+        )
+        Data.load(self.file)
+        return {"FINISHED"}
diff --git a/src/blenderbim/blenderbim/bim/module/cost/ui.py b/src/blenderbim/blenderbim/bim/module/cost/ui.py
index d2062d98ad..c6512fdbbc 100644
--- a/src/blenderbim/blenderbim/bim/module/cost/ui.py
+++ b/src/blenderbim/blenderbim/bim/module/cost/ui.py
@@ -432,6 +432,9 @@ class BIM_PT_cost_item_quantities(Panel):
         row2 = col.row(align=True)
         row2.label(text="Resources")
 
+        op = row2.operator("bim.calculate_cost_item_resource_value", text="", icon="DISC")
+        op.cost_item = cost_item.ifc_definition_id
+
         rtprops = context.scene.BIMResourceTreeProperties
         rprops = context.scene.BIMResourceProperties
         if rtprops.resources and rprops.active_resource_index < len(rtprops.resources):
diff --git a/src/ifcopenshell-python/ifcopenshell/api/cost/calculate_cost_item_resource_value.py b/src/ifcopenshell-python/ifcopenshell/api/cost/calculate_cost_item_resource_value.py
new file mode 100644
index 0000000000..98423308f7
--- /dev/null
+++ b/src/ifcopenshell-python/ifcopenshell/api/cost/calculate_cost_item_resource_value.py
@@ -0,0 +1,56 @@
+import ifcopenshell.api
+import ifcopenshell.util.date
+
+
+class Usecase:
+    def __init__(self, file, **settings):
+        self.file = file
+        self.settings = {"cost_item": None}
+        for key, value in settings.items():
+            self.settings[key] = value
+
+    def execute(self):
+        for cost_value in self.settings["cost_item"].CostValues or []:
+            ifcopenshell.api.run(
+                "cost.remove_cost_value", self.file, parent=self.settings["cost_item"], cost_value=cost_value
+            )
+
+        resources = []
+        for rel in self.settings["cost_item"].Controls or []:
+            for related_object in rel.RelatedObjects:
+                if related_object.is_a("IfcConstructionResource"):
+                    resources.append(related_object)
+                elif related_object.is_a("IfcTask"):
+                    for rel2 in related_object.OperatesOn or []:
+                        for related_object2 in rel2.RelatedObjects:
+                            if related_object2.is_a("IfcConstructionResource"):
+                                resources.append(related_object2)
+
+        total_cost = 0
+        for resource in resources:
+            cost = self.get_cost(resource)
+            quantity = self.get_quantity(resource)
+            if not cost or not quantity:
+                continue
+            total_cost += cost * quantity
+
+        if total_cost:
+            cost_value = ifcopenshell.api.run("cost.add_cost_value", self.file, parent=self.settings["cost_item"])
+            cost_value.AppliedValue = self.file.createIfcMonetaryMeasure(total_cost)
+
+    def get_cost(self, resource):
+        total = 0
+        for cost_value in resource.BaseCosts or []:
+            total += cost_value.AppliedValue.wrappedValue if cost_value.AppliedValue else 0
+        return total
+
+    def get_quantity(self, resource):
+        total = 0
+        if resource.BaseQuantity:
+            return resource.BaseQuantity[3]
+        if resource.Usage and resource.Usage.ScheduleWork:
+            # For now we assume either hourly or daily depending on how duration is stored
+            duration = ifcopenshell.util.date.ifc2datetime(resource.Usage.ScheduleWork)
+            if duration.days:
+                return duration.days
+            return duration.seconds / 60 / 60