Establish Forecast Methods - EcoSys - 3.01 - Help - Hexagon PPM

EcoSys Projects Help (3.01)

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The Forecast Method assigned to each project object is used to determine the New EAC (Estimate at Complete), and automatically transition per period and do not need to be repopulated by the user. This value is updated in the Forecast Settings Summary panel.

Available forecast methods include:

  • AC + Open Commitment: Actual costs will be added to open commitment values and this value will be used as EAC. This ensures that the cost control objects without actual costs will receive a value if commitments are present.

  • Current Budget: The current budget value will be used as the EAC if the current budget value is greater than total actuals. Otherwise, total actuals will be used as the object’s EAC.

  • Current Forecast: The current forecast value will be used as EAC if the current forecast value is greater than total actuals. Otherwise, total actuals will be used as the object’s EAC.

  • Greater of EAC or AC: The greater value of current forecast cost or actual cost will be used as object’s EAC.

  • Manual EAC: The Manual EAC value entered into project column will be used as object’s EAC.

  • Manual ETC: The Manual ETC entered for project column is used to calculate the line item’s EAC. If the object’s total EAC is less than total Actuals, total Actuals will be used to define the object’s EAC.

    Manual ETC must be updated whenever the forecasting cycle first begins for the project and after the previous forecast variance change has been approved, a new forecast cycle for a new project period begins.

This procedure allows you to establish a forecast method for each project.

When the Forecast Method is modified, always run the Refresh Time-Phased Forecast (Multi Project) action.

  1. Navigate to Forecasts > Multi Project Forecast.

  2. Click the Forecast Method ellipsis to select the required forecast method. The available forecast methods are listed below:

    • ACCO – AC + Open Commitment

    • CBGT – Current Budget

    • CFCT – Current Forecast

    • EAAC – Greater of EAC or AC

    • MEAC – Manual EAC

    • METC – Manual ETC

  3. Click the Time Phasing Method ellipsis and select the required time-phasing method. The available time-phasing methods are listed below:

    • BCK – Back-Loaded

    • BEL – Bell Curve

    • FRN – Front-Loaded

    • LIN – Linear

  4. Select the required Start Date and End Date.

  5. Click the Save icon.

    • The columns that are required as per the selected forecast methods appear in a green background.

    • Project period is always current period - 1.