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.