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 Project Details/Cost Element Code Part Demand tab.
• 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 Info/Costs
Project Forecast Info/Revenue

Procedure

Use the following procedure to add a budget/forecast line to an existing budget/forecast version:

1. Open the Project Forecast Version Lines window. You can also perform this activity by opening the Project Forecast Info window and clicking on the Cost or Revenue tab.
   
   Note: When using the Costs tab of the Project Forecast Info window, you should query ahead for the project and the budget/forecast version for which you want to define a budget/forecast line.

2. Click New to begin creating a new budget/forecast line.
3. 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 Info 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.
4. In the Forecast Type field, use the List of Values to select a predefined budget/forecast type.
5. 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.
6. 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.
7. 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 Info/Cost tab and if the option is Revenue then the record will be saved in Project Forecast Info/Revenue tab.
8. In the Description field enter a description for the budget/forecast line.
9. 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 Details/Currency tab).
10. 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.
11. 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.

12. 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
13. 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.
14. Click Save.

Use the following procedure to confirm a budget/forecast line:

1. 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:

1. Right click on a budget/forecast line and then click Start Review.