Effort Forecasting Enhancement
This change is an enhancement done on the existing feature ‘Effort Forecasting’. This feature provides task-level forecasting details on cost and revenue for each period.
As part of this enhancement, we have provided functionality for project forecasting based on the project tasks, resources assigned, and the cost/sales price. When the forecasting version is created, periods are generated for each task – Day-wise, Week-wise, Month-wise, and Year-wise.
The summary of task status is displayed based on the current forecasting version date which includes details like Planned cost, Actuals, PCAPC, CEAPC, Cost overrun details, etc.
A field ‘Forecasting type’ is introduced in the ‘Forecasting to date’ tab which can be used to toggle to view details related to Effort, Cost, and Revenue.
1.1 Forecasting Cost
Forecasting cost-related information can be viewed by generating a new version of a project. This Cost sub-tab displays information specific to Cost forecasting.
Navigation: Project Operations > Projects > evergreen > Forecasting vs Actuals > Forecasting to date (tab) > Cost
Field Descriptions
| Field | Description |
|---|---|
| No. | Indicates the serial number of the tasks |
| Name | Indicates the task name |
| Project task start date | Specifies the start date of the task |
| Project task end date | Specifies the end date of the task |
| Planned cost | Indicates the total cost planned for the task |
| CEAPC day | Indicates the cost estimated at period complete for Day period. This can be viewed for different period types in the respective views selected in the forecasting to date tab |
| Actual cost | Indicates the actual cost for the specific task |
| PCAPC day | Indicates the Percent cost at period complete for Day period. This can be viewed for different period types in the respective views selected in the forecasting to date tab |
| Cost consumption % | Indicates the actual cost consumed % |
| Overrun day | Indicates if the task cost is overrun. This field will be set to Yes if Actual cost > CEAPC day & Cost consumption % > Percent checkpoint on Variance tab. This can be viewed for different period types in the respective views selected in the forecasting to date tab |
| Summary task | Indicates if the task is a parent task. Sets the field to Yes if it has leaf tasks, else it will be set to No. |
To enable forecasting for a project, a new record must be created. Once saved, click on the button ‘Generate new version’ to generate a new version of forecasting.
The ‘Forecasting generation status’ field is set to ‘Processing’ while the new version is generated. Once the process is finished, the field is set to ‘Completed’.
Click on the Forecasting to date tab, and select the button on ‘Cost’ for Forecasting type to view data related to Cost.
Forecasting can be viewed at Day, Week, Month and Year wise by switching the view.
Information for each period can be viewed by navigating to the details form for each task. Details like Period, CEAPC, PCAPC, Cost consumption % so far and overrun details can be viewed. It can be viewed separately for each period type like Day, Week, Month, and Year.
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