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Question

Update Project Estimates from Forecast


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When a person uses Budgeting and Forecasting, they will determine estimates that may or may not match the estimates from the Project (Project Monitoring).  Our customer wants to keep these in sync and is incredulous that we don’t have tools to update the project from the budget/forecast.  At least to the best of my knowledge we don’t.  This forces the user to have to update in Budgeting and Forecasting, then update the project, which can be tedious and prone to error and time consuming.

It seems that the logic to update the estimate from the forecast is pretty straightforward.  Has anyone done this?  Is there any move by RnD to add this capability?

Thank you.

/Patrick

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  • Hero (Employee)
  • April 16, 2025

Hi Patrick,
Not sure what you are running.

Is it that you have a Budget not you want to estimate a new forecast based on Actual cost and progress?

So as example, you have a budget line, Budget 1000, actual 600 progress 50% => new ETC = 600 => EAC 1100. To be filled in into the new forecast?

Or do you want to change the budget based on a new Estimate because the scope has changes. So we need to do twice as much so the new budget (EAC) becomes 2000 ?

Regards Erik


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  • Hero (Employee)
  • April 16, 2025

I have a Budget and I want to update the estimates on the Project Activity with those numbers.  Does that help?

Patrick


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  • Hero (Employee)
  • April 16, 2025

Aha you want to update the estimated cost on the activity with the value of the Budget.

Core does not do that since the budget can be a Project or sub project level, and also on a higher node in the CBS. So you could not write that back to the estimated cost per activity per Project Cost Element.

But it is a simple CRIM item, as soon as you activate the new budget, run a you to delete the estimated costs, and fill them again with the values of the Budget, as long as your budget is at the activity level only, and at Cost Element Level 

I think we tried something like this for a customer.

Does that help?

Regards Erik


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