Create Contract Change Order Forecast Lines

Explanation

Forecast lines contain the amounts retrieved from cost/revenue elements and occasionally by code parts if code parts have been defined as mandatory in code part demands for cost elements. A contract change order forecast may consist of a number of lines for each cost/revenue element. 

Prerequisites

•  Cost/revenue elements for the project should be defined in the Project Details/Cost Element Code Part Demand tab.
•  The contract change order should exist with a status before Analyzed if you want to create new forecast lines.
•  The contract change order should exist with a status before Approved if you want to modify the amount on the existing forecast lines.
•  The Forecast tab with its Cost and Revenue tabs is only enabled if the contract change order is connected to a Project ID in the contract change order header. The IFS/Project Budgeting and Forecasting component should also be installed.

System Effects

•  The contract change order forecast line will be created. The amount entered in the ETC column will also be displayed in the Unspread Amount column for the created line.
•  A summary per cost revenue element (or CBS node) is added and updated in Contract Change Order/Impact/Financial – This Order tab.

Window

Contract Change Order

Related Window Descriptions

Contract Change Order/Forecast
Contract Change Order/Forecast/Cost
Contract Change Order/Forecast/Revenue

Procedure

Use the following procedure to add forecast lines to an existing contract change order forecast:

1. Open the Contract Change Order window and query for the contract change order for which you want to define a contract change order forecast.
2. Select the Forecast tab and then the Cost or Revenue tab depending on whether the forecast line should be entered per cost or revenue.
3. Click New to create a new forecast line.
4. If applicable, use the List of Values in the Sub Project ID field to select the sub project for which you want to define the forecast line. If you want to define the forecast line down to the activity level use the List of Values in the Activity ID field. Optionally you can use both the WBS and CBS navigator to select a desired level. If you add a new line then, values for what was selected in the WBS and CBS navigator will automatically be entered on the new line.
5. In the Cost/Revenue Element field, use the List of Values to select a cost or revenue element which you want to use for the forecast.
6. Optionally, in the Description field enter a description for the forecast line.
7. In the Currency Code field enter the currency code used for the forecast values if multicurrency budgeting and forecasting is used (defined in the Project Details/Currency tab).
8. Enter a value in the ETC field (If multicurrency budgeting and forecasting is used enter the value in either transaction, project or base B&F rate currency).
9. In the Code Parts fields, use the List of Values where applicable to select required values. Note: The code parts of a cost/revenue element for which it is mandatory to define values are determined on the Project Basic/Cost Element Code Part Demands tab or Project Details/Cost Element Code Part Demand tab.
10. Click Save.