Forecasts - EcoSys - 4.11 - Help - Hexagon

EcoSys Projects Help (4.11)

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English
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EcoSys
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EcoSys Standard Version
4.11

Forecasts

The EcoSys Projects Forecast screens are used to generate and view predictions of future costs based upon actual costs to-date and the methods defined by the user to calculate the forecast.

Forecast

The Forecast screens are used to generate and analyze a new project forecast. This includes the population of Forecast attributes, the manipulation of this Forecast through assignment of a Forecast Method, and the submission of a project forecast change to achieve a new Current Forecast. If Time-Phase is checked in the Projects > Project SetupGeneral tab, Forecasts may be time-phased.

The user begins the forecasting process by validating the Forecast Methods and any data required to support the Forecast Methods. The New EAC and Forecast Variance is calculated and displayed after these attributes are saved.

After Forecast EAC has been validated, the user may elect to time-phase budget data. If so, Time-Phase must be checked in the Projects > Project SetupGeneral tab. Before time-phasing a project for the first time in a Project Period, the user should run the "Refresh Time-Phased Forecast" workflow action to refresh the screen with Current Forecast time-phased values. The user can then modify time-phase settings, update manual time-phased ETC values, and set the Balance Method determines how the current period’s variance (the difference between the Current Forecast and the Actuals) will be spread. They user may also set the Adjustment Method to determine how adjustments due to unexpected actuals or ETC adjustments are handled. The user can run the "Time-Phase Forecast" workflow action to re-time phase the forecast.

Once the forecast is as desired, a "Forecast Variance Change" can be created and submitted. The Submit Forecast Change workflow action creates a new "Forecast Variance Change" change header and generates line items by comparing the revised forecast to the Current Forecast. Following this submission, the new change follows the change approval process established for the project in Projects > Project SetupForecast Admin. Once approved, the Current Forecast will be updated to reflect the value of the Working Forecast, closing out the forecast update process.

Forecast Comparison Summary Dashboard

The Forecast Comparison Summary Dashboard uses the Project Structure to display a comparison of costs beginning with the Original Budget, moving to the Current Budget, Current Forecasts and Prior Forecasts. This data is portrayed in both a graphical and tabular format.