New Project Budget/Forecast Versions
Explanation
This activity is used to create a new budget/forecast version for a project.
It is possible to create a new budget/forecast version from EAC Workbench as
well.
A new budget/forecast version can be created from the project or from an
existing forecast.
If the new budget/forecast version is created from an existing forecast,
use Set ETC option accordingly to derive ETC values on the new forecast version.
- Do Not Set ETC: No values will be inserted into the ETC
field of the new forecast version.
- Based on Previous ETC: The ETC of the previous version is copied
as the ETC of the new forecast version. The EAC will then be calculated
to be the sum of the EAC and the cost or revenue until the snapshot date
and time.
- Based on Previous EAC: The EAC of the previous version is copied
as the EAC of the new forecast version. The ETC will then be calculated
to be the difference between the EAC and the cost or revenue until the snapshot
date and time.
If the new budget/forecast version is created from an existing forecast using
the EAC Workbench, Set ETC Options and Resource Forecasts sections will not
be available in New Project Forecast assistant.
Prerequisites
- A project must exist.
- A budget/forecast type must be setup.
- The Cut-Off Date to be specified on the project budget/forecast
version should reside on an accounting period that exists for the user's
company.
- When copying a budget/forecast version from a project the project you
are copying from should not have any mandatory code part demands. If
any mandatory code parts have been set and there are values that are copied
from a project that are missing values for these code parts, then no lines
will be created in the budget/forecast.
System Effects
- A budget/forecast version of the specified type is created.