New Project Budget/Forecast Versions
Explanation
This activity is used to create a new budget/forecast version
for a project.
Prerequisites
- A project must exist.
- A budget/forecast type must be setup in
Project Basic/Forecast Types.
- The Cut-Off Date to be specified on the project budget/forecast version
should reside on an accounting period that exists for the user's company.
- When copying a budget/forecast version from a project the project you
are copying from should not have any mandatory code part demands.
If
any mandatory code parts have been set and there are values that are copied
from a project that are missing values for these code parts, then no lines
will be created in the budget/forecast.
System Effects
- A budget/forecast version of the specified type is created.
Window
Project Forecasts
Project Forecast Info
Projects
New Project Forecast
Related Window Descriptions
Project Forecasts
Project Forecast Info
Projects
New Project Forecast
Procedure
Use the following procedure to create a new budget/forecast version using the
New Project Forecast Assistant:
- Open the Projects or
Project
window and query for the project on which you want to create a
budget/forecast.
- Right click on the window and select Create Forecast. The first step
of the New Project Forecast Assistant opens up. Note: This
assistant can also be
opened from the IFS/Navigator in which case the project for
which the budget/forecast should be made should be selected using the List
button for the Project ID field.
- Select the Forecast Type field and use the List button to select a predefined budget/forecast type.
Note: If the budget/forecast version being created is of the same
budget/forecast type
as an existing version, the forecast type of the existing budget/forecast
version will be inherited into this field.
- Enter a description of the version you plan to create in the Version Description
field.
- Enter a valid Accounting
Period and Cut-Off-Date. These values will
be referenced later on when creating snapshots on a particular project
forecast version.
- Select the Create Snapshot check box, if it is required
to create a
snapshot of the forecast version. Depending on
the need for monitoring the data it can be created as a snapshot without or
without details or linked to the project connected objects. Click the
relevant Snapshot With
Details, Snapshot Without Details or the Live View option
according to your requirement.
- In the Snapshot Matching field, select the
default option for the calculation rule on the new forecast when connecting and matching snapshots. It can either be
EAC
Recalculated or ETC Recalculated option.
- In the Copy area select the appropriate
From
Forecast or From Project check box
to specify how you want to copy data. If the Copy
check box
is not selected, an empty forecast will be created.
- In the Note field, enter a note, if required, about the
budget/forecast
version being created.
- Click Next or Finish depending on your
selection for Copy check box.
If the From Forecast option is selected
and Next button was clicked the Copy From
Forecast step will be displayed:
- You can modify the budget/forecast version from which you want
to copy by using List button on the the Forecast Type field.
- Select the Copy and Include CCO Connections check box if it is
required that the contract change orders that are connected to the source
budget/forecast should be copied to be connected also to the new
budget/forecast.
Note: If you press the Connections button and in the Forecast
Connection dialogue select contract change orders to be included in
the budget/forecast version and then press OK the Copy and Include
CCO Connections check box will be selected by default.
- Select the Copy and Include Resource Forecast Connections check
box if it is required that the resource forecasts that are connected to the
source budget/forecast should be copied to be connected also to the new
budget/forecast. Resource forecast connections can however only be copied to
the new budget/forecast if the cut off dates are the same
Note: If you press the Connections button and in the Forecast
Connection dialogue select a resource forecast to be included in the
budget/forecast version and then press OK the Copy and Include
Resource Forecast Connections check box will be selected by default.
- In the Forecast Version field, use the List button to modify, if required, the
budget/forecast
version from which you want to copy.
Note: If the budget/forecast version being created is of the same
budget/forecast type as an existing version, the record of the existing
budget/forecast version will be inherited into the From Forecast group of
fields.
- Clear the Copy Approval Routing check box if it is required that
the approval steps defined on the approval routing of the source
budget/forecast
not be copied to the new budget/forecast.
- Clear the Copy Cost/Revenue Spread check box if it is required that the
cost/revenue spread on the source budget/forecast should not be copied to the new
budget/forecast. If selected, decide whether it should
be the Complete spread or
From Cut Off Date.
- Clear the Set ETC check box if it is
required that the ETC field of the forecast lines are not to be
calculated based on previous forecast. If this check box is selected
then select one of the three options, based on your requirement:
- Leave ETC Empty: No values will be inserted into the ETC
field of
the new forecast version.
- Set ETC Based on Previous EAC: The EAC of the previous version is
copied as the EAC of the new forecast version. The ETC will then be
calculated to be the difference between the EAC and the cost or revenue until the
snapshot date and time.
- Set ETC Based on Previous ETC: The ETC of the previous version is
copied as the ETC of the new forecast version. The EAC will then be
calculated to be the sum of the EAC and the cost or revenue until the snapshot date and
time.
If the From Project
option was selected and Next button
was clicked the Copy From Project step will be displayed:
- Clear check box Cost or Revenue if
it is required that cost or revenue is not be copied to the new
budget/forecast.
- Select what type of Cost
(Estimated, Planned or Baseline) or Revenue
(Estimated or Planned) that should be copied and
on what Level (Project, Sub Project or Activity).
Note: If Baseline is selected, baseline cost will be copied from the
project to the EAC column in the budget/forecast. Option to copy values from
a baseline will only be available when the following conditions are
fulfilled:
- project has a baseline
- multi-currency budgeting is not in use
- Click Finish.
Use the same procedure to create a new budget/forecast version using the Project Forecast or
Project
Forecast Info windows. You can also create a new budget/forecast version
from the Project window. Query for project and open the
Project Forecasts or
Project
Forecast Info windows.