Budgeting and Forecasting with Project Currency—Exercises

Basic Data Setup

Setting Up Project Currency Budgeting

Purpose: The purpose of this exercise is to familiarize you with the data that must be in place before you can do the exercises below.

1. Create a project.

2. Create a currency rate type and add currency rates to be used for project currency and multicurrency budgeting.

3. Initiate the use of project currency for your project.

Exercise for: Setting Up Project Currency Budgeting

Create Activities

Purpose: The purpose of this exercise is to familiarize you with the data that must be in place before you can perform the exercises below.
 

Select the project you created above and create activities in your subproject structure.

General exercise for Building a Project Plan

Approve Project

Purpose: The purpose of this exercise is to show you how to approve the project created above.

Approve the project you created in the above exercise.

General exercise for Approving and Starting Projects

Releasing Activities

Purpose: The purpose of this exercise is to familiarize you with the data that must be in place before you can perform the main exercise below.

Release the activities that you have created in your project.

General exercise for Executing Activities

Entering a Budget/Forecast Type

Purpose: The purpose of this exercise is to set up the basic data required for running this particular functionality.

Windows:
Project Basic

1. Create entries for forecast type GEN (without selecting the Set as Budget check box).

General exercise for Enter Budget/Forecast Type

Main Exercise

Purpose: The purpose of these exercises is to create a project forecast for a project that has been set up to work with Project Currency budgeting.

Windows:
Project
Project Forecast Info

Creating Project Forecast

1. Open the Project window and query for the project you created above.
2. Right-click and select the Create Forecast menu option.
3. Select the value GEN from the List of Values for the Forecast Type field.
4. Enter Version 1, in the Version Description field.
5. Click OK. A message box opens, inquiring whether you wish to view the project forecast, click Yes.
6. Review the information in the Project Forecast Info window.

Note: In the Cost tab of the forecast observe that you have additional amount fields to display project currency amounts.

Entering Project Currency Forecast Lines

1. Open the Project Forecast Info window and query for the required forecast.
2. Select an activity node in the project WBS Navigator (tree navigator on left hand side of the window).
3. Add following on the Cost tab.

Note that the ETC Project Curr will be calculated automatically to EUR 71.43 (if you have used the exact currency rates as provided in the basic data exercise).

4. Select the activity node in the project WBS navigator.
5. Add following on the Cost tab.

Note that the ETC in base currency will be calculated automatically to USD 140 (if you have used the exact currency rates as provided in the basic data exercise).

4. Save (F12).