Revenue Forecasting Information
Forecasting revenue-related information can be viewed by generating a new version of a project. This Revenue sub-tab displays information specific to revenue forecasting.
Navigation: Project Operations > Projects > evergreen > Forecasting vs Actuals > Forecasting to date (tab) > Revenue
Field Descriptions
| Fields | 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 revenue | Indicates the total revenue planned of the task |
| REAPC day | Indicates the revenue 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 revenue | Indicates the actual revenue for the specific task |
| PRAPC day | Indicates the Percent revenue 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 |
| Billable revenue % | Indicates the actual billable revenue % |
| Overrun day | Indicates if the task revenue is overrun. This field will be set to Yes if Actual revenue > REAPC day & Billable revenue % > 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. |
Click on the ‘Forecasting to date’ tab, and select the button on ‘Revenue’ for Forecasting type to view data related to Revenue.
Forecasting can be viewed at Day, Week, Month, and Year by switching the view.
Information for each period can be viewed by navigating to the details form for each task. Details like Period, REAPC, PRAPC, Billable revenue % so far, and overrun details can be viewed. It can be viewed separately for each period type like Day, Week, Month, and Year.
Update effort completed – When this button is clicked, the Period cost completed and Period cost % completed are updated in the version table and the period table. The updates will be made as part of the current forecasting version if the version is valid.
The ‘Forecasting update status’ field is set to ‘Processing’ while the version update is in progress. Once the process is finished, the field is set to ‘Completed’.
Variance Enhancement
This is an enhancement to the existing Variance calculation for Effort forecasting. This change includes variance calculation for Cost and Revenue forecasting.
A new tab ‘Variance’ is introduced on the Forecasting vs Actuals form which displays the calculated variance for Effort, Cost, and Revenue. Variance is updated when Actuals is greater than planned.
Navigation: Project Operations > Projects > evergreen > Forecasting vs Actuals > Variance (tab)
Variance Fields Descriptions
| Fields | Description |
|---|---|
| Percent checkpoint | Indicates the check point % for checking task effort/cost/revenue overrun |
| Day effort variance/ Day cost variance/ Day revenue variance | Indicates the variance for Day view |
| Week effort variance/ Week cost variance/ Week revenue variance | Indicates the variance for Week view |
| Month effort variance/ Month cost variance/ Month revenue variance | Indicates the variance for Month view |
| Year effort variance/ Year cost variance/ Year revenue variance | Indicates the variance for Year view |
When Actual cost > CEAPC and Cost consumption % > Percent checkpoint, then Day cost variance is updated with the cumulative difference amount for all tasks.
When Actual revenue > REAPC and Billable revenue % > Percent checkpoint, then Day revenue variance is updated with the cumulative difference amount for all tasks.
Similar to Day variance, Week/Month/Year variance is also calculated and viewed based on Planned vs Actual.
Form changes
UI changes are done on the Forecasting vs Actuals form to regroup the related fields. Variance functionality-related fields are moved to the new tab ‘Variance’ along with new fields as shown in the below image. History-related parameters have been moved to a separate section under the ‘Summary’ tab.
Security roles
The below roles must be added to the user and the respective Team, to enable access to the functionality:
• evergreen standalone maintain
• evergreen integrated maintain
• Dual write runtime user
• Dual write app user
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