Question

Project Monitoring - View Budget Value

  • 27 April 2022
  • 1 reply
  • 227 views
P
Rank
Badge +1

Hello, 

I am wondering if there is a way from the Project Monitoring screen to view values from the Project Forecasts. 

Example: I have created a Project Forecast for Project A. I have assigned EAC values for each Activity. The Forecast is Reviewed, Approved, and Set as Budget. 

On Project Monitoring screen, I see the usual Estimated, Planned, Used Costs etc. Is there anywhere where I can see my values from my Project Forecast? Perhaps an “Active Budget” column?

On the Project Monitoring >Analysis tab, I do see columns for BAC (Budget at Completion), EAC, and other fields. But these do not seem to be displaying my Project Forecast values. Online help explains that these are driven by “Estimated Costs”. Is there functionality to copy all of my my Project Forecast values to Estimated Costs? I know that I can copy Estimated values to a Project Forecast, so maybe this is only a one-directional relationship between the two.

It is worth noting that creating a Resource Forecast does update Planned costs when my Planned Cost Driver is set to Connected Objects. So why is my Project Forecast not considered a Connected Object? Am I missing a setting to enable this connection?

My overall goal is to see Actuals vs Active Budget side by side in a screen, without creating a new Project Forecast every time to analyze costs. 

Thanks!

 

 

1 reply

Vibhusitha Jananjaya
Rank
Userlevel 5
Badge +8

hi @PraKatieM,

Let me answer your questions one by one.

1. Is there anywhere where I can see my values from my Project Forecast? Perhaps an “Active Budget” column?

- This is not possible as such column is not available in the core/standard code

 

2. Is there functionality to copy all of my Project Forecast values to Estimated Costs? 

- Unfortunately, this is not possible. You can only copy Estimates to a Forecast but cannot copy Forecasted amounts to Estimated values. The idea is that; once you forecast a different estimate cost/revenue in the forecast, user can come back to the project and update the Estimate cost.

- Such changes you made to the project can be reviewed using project history logs (Hope you are aware about project history logs and setting baselines.)

 

3. So why is my Project Forecast not considered a Connected Object? Am I missing a setting to enable this connection?

- The ‘Project Forecasts’ are not considered as connected object to define the ‘Planned Cost’ in a project. You are not missing any setting; this is the intended behavior.

 

4. My overall goal is to see Actuals vs Active Budget side by side in a screen, without creating a new Project Forecast every time to analyze costs. 

- I wonder if you could create a “Baseline” for the project and assume it as Budget values when doing comparisons. I know this is not a perfect solution. But you could have the option.

(Once you finalize the Budget, you can update the estimates to reflect the active budget and then create a Baseline and assume it as the budgeted values)

 

 

Kind Regards, Vibhu

Reply


Terms & ConditionsCookie settings