Update Financial Impact

Explanation

Use this activity to enter or update details in the Contract Change Order page/ Financial – This Order tab/ Financial Impact section which summarize the Cost/Revenue values per Cost/Revenue element.

 

Entering new records is allowed only when the Contract Change Order is created for Change Source Customer or Supplier with no Project ID in the contract change order header and the connected Sales Contract or Sub Contract setting for the Contract Change Order Change Capturing Level is Cost or Revenue Element. Here all the Expected/Requested/Agreed values are manually entered in relevant CCO statuses.

 

All the other scenarios ( i.e. either when there's a Project ID entered in the Contract Change Order header or when the Contract Change Order Change Capturing Level of the Contract Change Order connected Sales Contract or Sub Contract is set to Contract Items) the records in this section is automatically generated either upon entering new records manually in the Change Order Forecast Cost/Revenue tab or upon executing the Generate Cost/Revenue Summary as applicable.


Note:

In addition to above automatically created records, it is possible to add the records manually only for the Cost elements if;
 - the Change source of the Contract Change Order is Customer and
 - the Contract Change Order Change Capturing Level of the connected Sales Contract to the Contract Change Order is set to Contract Items.

But in order to avoid any incorrect results, it is required to map the sales contract and project invoice postings into Revenue elements.

 

In the all above situations, Expected/Requested/Agreed hours are manually entered in relevant Contract Change Order statuses.


For more details about what is allowed in different scenarios, refer to the below table.

 

Change Source

Project ID exists in Contract Change Order header

Contract Change Order Change Capturing Level for the connected Sales/Sub Contract

System Behavior of the Contract Change Order page/ Financial – This Order tab/ Financial Impact Section.

Supplier/Customer

No

Cost or Revenue Element
    • Adding new records is allowed.
    • All types of Expected/Requested/Agreed values are entered in relevant Contract Change Order statuses.

Supplier/Customer

Yes

Cost or Revenue Element
    • Records are automatically generated  with Expected cost or revenue value upon entering Change Order Forecast lines.
    • Requested cost or revenue values are manually entered in relevant Contract Change Order statuses.
    • Agreed cost or revenue values are automatically updated upon modifying ETC on Change Order Forecast lines in relevant Contract Change Order statuses.

Supplier/Customer

Yes/No

Contract Items
    • Records are automatically generated upon executing the "Generate Cost/Revenue Summary" command.
    • Expected/Requested/Agreed hours are manually entered in relevant Contract Change Order statuses.

Project

Yes

n/a
    • Records are automatically generated  with Expected cost or revenue value upon entering Change Order Forecast lines.
    • Requested cost or revenue values are manually entered in relevant Contract Change Order statuses.
    • Agreed cost or revenue values are automatically updated upon modifying ETC on Change Order Forecast lines in relevant Contract Change Order statuses.

Prerequisites

System Effects