Setting up Cost Breakdown Structure (CBS) Project Management
Hi All,
Currently we are using WBS for the Project Management.
Want to explore Cost Breakdown Structure (CBS) option too.
As, I am pretty new to Project Management in IFS , request you to please help me in any documentation or screenshots related to CBS setup step by step.
I am really confused regarding how system will identify the required Cost element and capture the Committed cost in Project Forecast window when we connect a Project and Activity to a PO Line in Purchase Order window and release the respective PO.
Do we have any screen, where I can connect defined Cost Elements to required Project and Activity?
Note: We have decided to keep around 50 Cost/Revenue Elements.
Thank u so much in advance
Best Regards,
Rakesh
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Create the following Cost Breakdown Structure.
Cost Element L01 and L02 are connected to Time-Eng and Time-Tech respectively. Cost Element EXPENSES is connected to SubCon.
Create the CBS in Accounting Rules > Code String > Cost / Revenue Element Setup > Cost/Revenue Breakdown Structures
Create the Cost/Revenue Breakdown Structure Levels
The relationship between the Levels are maintained with the Level Above info.
Cost Element L01 and L02 are connected to Node 3 and 4 respectively. Node 3 and 4 are connected to Node 2. Cost Element EXPENSES is connected to Node 5. Node 2 and 5 are connected to the top node which is Node 1.
Finally set the CBS to Active status.
Add the CBS to the Project
Then create the forecast and CBS information can be found in the Forecast. Use Project Forecast CBS button.
Then it is possible to analyze the forecast in Cost Element level connected to the CBS.
Furthermore, the CBS Summary tab in the Project Forecast page can also be used to get a summary view.
@Rakesh As you have requested adding the content since you dont have access to the IFS Academy sub forum. Hope it helps !
Hi @Buddhika Kurera
Thank you so much for the detailed explanation with screenshots.
Just have a query, when we connect a Project and Activity to a PO Line in Purchase Order window and release the respective PO, how system will identify the required Cost element and capture the Committed cost in Project Forecast window?
Do we have any screen, where I can connect defined Cost Elements to required Activity?
Best Regards,
Rakesh
Just have a query, when we connect a Project and Activity to a PO Line in Purchase Order window and release the respective PO, how system will identify the required Cost element and capture the Committed cost in Project Forecast window?
@Rakesh Cost Element is connected based on the Code Part values of the Posting Controls. Not an easy topic to cover in a reply. But I ll try.
When a PO is connected, M1 posting control triggers (inventory). Then the value of the Code Part A in the relevant posting control needs to be checked against the Cost/Revenue Element per Code Part Value page to find the relevant Cost/Revenue Element (assuming Account is the Base for Cost/Revenue Element).
If the above connection is there, then the Committed Cost should have been updated in the activity against the relevant Cost Element.
