Question

Project Forecasting - Estimates to Complete

  • 21 January 2022
  • 3 replies
  • 156 views

Userlevel 2
Badge +4

Like a lot of you we are using IFS for managing and maintaining the delivery of our Projects. 

In IFS we build up the project cost using hours (x number of hours at a set grade = cost to the business) however when we come to do the forecast, either updating the ETC/EAC on the activity line or on a project forecast, the system asks for a monetary value.

So, if you’ve got a 200 hour activity made up of 3 different grades and you’ve booked 80 hours in total (a mix of the 3 grades), how do you calculate what the cost to complete is (without using a separate spreadsheet to do the calculations) ?

Simple if everything is on track, baseline cost minus actual cost equals cost to complete.

Not so simple when you’re are going to need more hours than planned to complete the activity. 

Currently the only solution I can see is to do the calculations separately to IFS and then input the values into the ETC field, this isn’t an ideal solution and does defeat some of the benefits of having an integrated solution.

Any suggestions or examples of how you use IFS ?


3 replies

Userlevel 1
Badge +3

Hello,

If I understand the requirements, then you should be able to use Resource Forecast and connect it to the Project Forecast. This way the planned and reported hours are transferred from resource planning to the forecast and ETC/EAC are calculated.

Suggest that you use the method: Copy from Project Resource Planning and connect a snapshot to get reported values when you create the Resource Forecast. Thereafter connect it to the Project Forecast.

Hope that helps,

Åsa R&D
 

Userlevel 2
Badge +4

Thanks you Asa,

After posting the question I went back and looked at Resource Forecast, for some reason we had discounted it as something that we didn’t think we would use. I can see now how it works and have worked through a couple of scenarios and tests. I can see how to update the planned hours on the project using the hours on the resource forecast.  

I haven’t tried connecting the resource forecast to the project forecast yet though, is this straightforward to do? I’ll investigate further and if I get stuck will come back and ask another question.

Kind regards

 

Lee

Userlevel 1
Badge +3

Hi Lee,

I am not sure what version of IFS Applications/IFS Cloud you are on, but the connection is made from the Project Forecast, using the option Forecast Connections. In the online documentation under the process Create and Develop Project Budget, there is an activity called: Connect/Disconnect Resource Forecast, that describes this.

 

Kind regards

Åsa

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