EAC Workbench can be used to predict EAC values based on system data for a Project Forecast. In order to do that, a Project Forecast should be created first. Then EAC Workbench can be used to calculate values based on system data and finally the EAC values should be copied to Project Forecast in order to do perform other actions like Spreading.
EAC calculation in Workbench is based on Adjusted Budget for This Forecast value. Adjusted Budget This Forecast value is as same as the Active Budget of the project if there are no Budget Transfers or Estimated Budget Changes.
Adjusted Budget This Forecast is calculated as follows:
Adjusted Budget This Forecast = Active Budget + Budget Transfers + Estimated Budget Changes
In addition, following actions can be performed to calculate the new EAC for the forecast.
In EAC Workbench, Active Budget values can be transferred between different forecast lines, providing a better base for the new EAC calculation, while keeping the total value of the Active Budget field the same. This has no effect on Active Budget of the project, only affects the Adjusted Budget This Forecast value in the EAC workbench, so predicting better EAC value.
In the EAC Workbench, Estimated Budget Change can be entered to a forecast line to indicate that the Actual Budget amount is not adequate thus changing the Adjusted Budget This Forecast for the selected Project Forecast.
Future Commitments can be entered manually to adjust the EAC according to the changes anticipated in future like contingency or a expected rate change. It also can be used to forecast for miscellaneous work, not covered by anything else.
Estimated Future Commitment is calculated as follows:
Unplanned Cost = Adjusted Budget This Forecast - Planned Cost + CCO Value included in Planned Cost
Estimated Future Commitments (EFC) = Unplanned Cost + Future Commitments
Unapproved and approved Change Order values can be used to predict better values for EAC. If the Change Order agreement is already updated into the sub contract, it would be considered for the calculation via Planned Cost of the Sub Contract itself. If it is not yet updated, then the Change Order values can be retrieved using Manage Change Order Connections.
Finally the Workbench EAC is calculated as follows
EAC = Planned Cost + CCO Value not included in Planned Cost + Estimated Future Commitments (EFC)
In return ETC is calculated using;
EAC = Total Committed Cost + ETC
Where Total Committed Cost is
Total Committed Cost = Used +Committed
Once the EAC values are finalized and ready, they need to be copied to the project forecast using Copy EAC to Forecast action command.