Processing Forecasts
On the Work breakdown structure form, after entering the WBS data, the user can use the new buttons added on the Plan tab to move the Work breakdown structure lines into the respective forecast models for Planned value, earned valued and estimate to complete.
WBS lines can be verified on Go to Projects management and accounting > Projects > All projects > Work breakdown structure or _Go to Manage projects workspace > Manage project tab> Work breakdown structure
Go to Projects management and accounting > Projects > All projects > Plan tab
_Go to Manage projects workspace > Budgeting tab
When the user chooses one of these buttons then a batch window opens where the user can process the records further. Details of how each forecast plan is updated is detailed in the below sections of the document.
Planned Value Forecasts
Planned value is the value that has been planned for executing the work breakdown structure tasks, so this is the baseline planned.
Go to Projects management and accounting > Projects > All projects > Plan tab > Update planned value forecast
Go to Manage projects workspace > Budgeting tab > Update planned value forecast
The user can edit only the task description and enable batch processing and its related information. Rest all the fields default from setups and not editable.
When the user runs the batch then the following data from work breakdown structure is considered for creating forecast lines, for the Forecast model ID that is selected in the parameters.
- Start date: From work breakdown structure line.
- Role ID: Value would be blank if the resource is not yet assigned to the work breakdown structure line.
- End date: From work breakdown structure line.
- Effort (hours): From work breakdown structure line.
- Cost price: Picked from work breakdown structure Line or from the price setup in project module
- Sales price: Picked from work breakdown structure Line or from the price setup in project module.
- Resource: Value would be blank if the resource is not yet assigned to the work breakdown structure line.
Earned Value Forecasts
Earned value is the value that is forecasted to be earned till the current date, from the start date of the work breakdown structure line.
Go to Projects management and accounting > Projects > All projects > Plan tab > Update earned value forecast
Go to Manage projects workspace > Budgeting tab > Update earned value forecast
When the user runs the batch then the following data from work breakdown structure is considered for creating forecast lines in the forecast model ID that is selected in the parameters.
- Start date: From work breakdown structure line.
- End date: Current/System date.
- Effort (hours): From work breakdown structure line.
- Cost price: Picked from work breakdown line or from the price setup in project module, based on the setup in forecast model.
- Sales price: Taken from work breakdown line or from the price setup in project module, based on the setup in forecast model.
- Resource: Value would be blank if the resource is not yet assigned to the work breakdown structure line.
Estimate to Complete Forecasts
Estimate to be completed is the forecasted value that is required to complete the task from today. So, the current date is cut off till the end date of the work breakdown structure is considered for calculating the number of days. However, for the remaining effort, the value of remaining effort is considered from work breakdown structure form on the tracking view – hours effort.
Go to Projects management and accounting > Projects > All projects > Plan tab > Update estimate to complete forecast
Go to Manage projects workspace > Budgeting tab > Update estimate to complete forecast
When the user runs the batch then the following data from work breakdown structure is considered for creating forecast lines for the forecast model ID that is selected in the parameters.
- Start date: Current/system date.
- End date: From work breakdown structure line.
- Effort (hours): Remaining effort from Effort tracking in the work breakdown structure.
- Cost price: Taken from work breakdown structure Line or from the price setup in project module.
- Sales price: Taken from work breakdown structure Line or from the price setup in project module.
- Resource: Value would be blank if the resource is not yet assigned to the work breakdown structure line.
In case a task is estimated for 20 days starting from June 1st to June 20th, When Update planned forecasts is executed, the forecasts will be created from June 1st to June 20th. When Update earned value forecast is executed on June 5th, the forecasts will be created from June 1st to June 5th. When Update estimate to complete value forecast is executed on June 5th, the forecast will be created from June 5th to June 20th.
Periodic Forecast Processing
The user can run the planned value only from the project however for the other two methods i.e. earned value and estimate to complete forecasts, periodic process menu can be used, which is available in the below path.
Project management and accounting > Periodic > projects360 Periodic > WBS Periodic
The functionality of the batches is the same as it is from the all projects menu, however in this form the batch can be run for one or more than one projects at a time.
