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

EcoSys Projects Help (3.01)

PPMProduct
EcoSys
PPMCategory_custom
Help
Version_EcoSysStand
3.01

The Forecast Method assigned to each project object is used to determine the new Estimate at Complete, and automatically transition per period and do not need to be repopulated by the user. This value is updated in the Project Forecast 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 CPI: The Earned Value ETC (Estimate-To-Complete) will be divided by the Current CPI and added to the actual cost. If the EAC is less than total actuals, total actuals will be used as the new EAC.

    The formula used to calculate Current CPI is: [AC + ((BAC-EV)/CPI)]. Here AC is actual cost, BAC is Budget at Completion value, EV is earned value, and CPI is Cost Performance Index.

  • 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 DetailsETC Hours, ETC Cost, and ETC Quantity can be updated manually per period. If the EAC is less than total actuals, total actuals will be used as the new EAC. For time-phased projects, time-phased totals must be updated manually as well and exactly match the totals on the Forecast screen.

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

  • Manual ETC: The Manual ETC entered for each of an object’s line items 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.

  • Manual Factor: The Earned Value ETC will be divided by the Manual Factor and added to the Actual Cost. If the EAC is less than total actuals, total actuals will be used as the object’s EAC.

    The formula used to calculate Manual Factor is: [AC + ((BAC-EV)/Manual Factor)]. Here, AC is actual cost, BAC is Budget at Completion value, and EV is earned value.

  • Project Default: The project default forecast methods and approval thresholds established in the Project Setup screen (Projects > Project Setup - Forecast Admin tab) will be used to determine the object’s EAC. If the EAC is less than total actuals, total actuals will be used as the object’s EAC.

  • Schedule: The schedule value is fetched from the project scheduling and will be used as the New EAC.

    The resource assignments must be pushed to OB / FCT in the project scheduling to fetch the schedule value to Forecast.

  • Time-Phased Forecast: When the Submit Forecast Variance Change action is run, the total time-phased ETC costs, hours, and quantity will replace the total ETC cost, hours and quantity for the line item defined on the Forecast screen.

Follow the procedure below to filter the projects for Forecast.

  1. Navigate to Forecasts > Forecast.

  2. In the Project Navigation Register panel, do the following:

    1. (Optional) In the green parameter bar, click the Project Controller ellipsis to select the project controller.

      All the projects that are controlled by the selected project controller are displayed.

    2. (Optional) In the green parameter bar, click the Project Manager ellipsis to select the project manager of the project.

    3. (Optional) In the green parameter bar, click the Portfolio ellipsis to select the portfolio to which the project belongs to.

    4. Select the required project row to view and edit its project details.

      The project details are displayed on the right-hand side.

      (Or)

      On the right-hand side, at the top of the screen, in the green parameter bar, click the Project ellipsis to select the required project.

  3. Click Project Period ellipsis to select the required period of the project.

  4. If required, click REFRESH to update the screen.