Create Project Budget/Forecast Lines
Explanation
Budget/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 project
budget/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
Cost Element Code Part Demand
window.
- The project budget/forecast version should exist with its status as Preliminary.
- Spread profiles should be defined in the Project
Spread Profiles window if spreading should be done automatically by
using spread profiles.
System Effects
- The budget/forecast line will be in the Under Review status.
- If a spread profile is entered on the budget/forecast line the ETC
amount is spread over the accounting periods between (and including) Start
Date and End Date. The spreading is done according to the distribution curve
in the spread profile.
Window
Project Forecast Version Lines
Project Forecast
Related Window Descriptions
Project Forecast
Version Lines
Project Forecast/Costs
Project Forecast/Revenue
Procedure
Use the following procedure to add a budget/forecast line to an existing
budget/forecast
version:
- Open the Project Forecast Version Lines
window. You can also perform this activity by opening the
Project
Forecast window and clicking on the
Cost
or Revenue tab.
Note: When using the Costs tab of the
Project Forecast window, you should query ahead for the project and the
budget/forecast
version for which you want to define a budget/forecast line.
- Click New to begin creating a new budget/forecast line.
- In the Project ID field use the List of Values to select the
project for which you want to define the budget/forecast line. Or if you want to
define the budget/forecast line down to the Sub Project Level or Activity Level use
the List of Values in the Sub Project ID field or Activity ID
field. In the
Project
Forecast window you can use both the WBS and CBS navigator to
select a desired level. If you then add a new line, values for what
was selected in the WBS and CBS navigator will automatically be entered on the
new line.
- In the Forecast Type field, use the List of Values to select a
predefined budget/forecast type.
- In the Forecast Version ID field, use the List of Values to select
a budget/forecast version defined on the project for which you want to create a new
budget/forecast line.
- 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 budget/forecast.
- In the Forecast Line Type field, use the
List of Values to select the line item type. If the option is Cost
then the record will be displayed in Project Forecast/Cost
tab and if the option is Revenue then the record will be saved in
Project Forecast/Revenue tab.
- In the Description field enter a description for the
budget/forecast
line.
- In the Currency Code
field enter the currency code used for the budget/forecast values if
multicurrency budgeting and forecasting is
used (defined in the Project/Currency tab).
- Enter a value in either the ETC or EAC field
(If multicurrency budgeting and forecasting is used
enter the value in either transaction, project or base B&F rate currency). On saving if
one of these estimates is the only one made on the budget/forecast line the
empty field will be left calculated to be equivalent to the field with the
value.
- Optionally, in the Spread Type field, select the type of
budget/forecast spreading required from the list for the particular
budget/forecast line depending on the requirement:
- Manual: Enables manual entry and distribution of costs/revenue
for each of the spread periods. If spread type is set to Manual it is
not mandatory to enter a spread profile.
- Profile: Produces a linear or nonlinear distribution of
cost/revenue among the periods using a predefined spread profile. If spread
type is set to Profile it is mandatory to enter a spread profile.
- Optionally, in the Spread Profile field enter the spread profile
that should be used to spread the ETC amount over the accounting periods
between (and including) Start Date and End Date
- 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
Cost Element Code Part Demands
window.
- Click Save.
Use the following procedure to confirm a budget/forecast line:
- Right click on a budget/forecast line and then click Confirm.
Use the following procedure to restart a review on a confirmed
budget/forecast line:
- Right click on a budget/forecast line and then click Start Review.