Creating Project Budget/Forecast—Exercises

Basic Data Setup

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 a forecast with the forecast type GEN (with the Set as Budget check box unselected) and a budget with the budget type BGT (with the Set as Budget check box unselected) .

General exercise for Enter Budget/Forecast Type.

Required Data

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.

  1. Create a project in company 10 and create activities in your subproject structure. 

General exercise for Building Project Plan.

Create an Approval Template

Purpose: The purpose of this exercise is to show you the required data that is used in the exercises below.

  1. Open the Document Basic window and click on the Approval Template tab.
  2. Create an approval template in which you are the member who approves the first step.

General exercise for Create an Approval Template . 

Define Cost Element Code Part Demands

Purpose: The purpose of this exercise is to show you the required data that is used in the exercises below.

  1. For your company, select the Account check box for the MAT and LABOR cost elements.

General exercise for Define Cost Element Code Part Demands.

Connect Project Cost Elements to Account

Purpose: The purpose of this exercise is to show you the required data that is used in the exercises below.

  1. Open the Project Cost/Revenue Element per Code Part Value window and enter the following values.
Account Project Cost Element
1400 LABOR
1151 MAT

General exercise for Connecting Project Cost Element to Account.  

Main Exercise

Purpose: The purpose of these exercises is to create a project forecast as a forecast and as a budget, to enter version lines on the budget and to enter an approval routing on it.

Windows:
Project
Project Forecasts Info
Project Forecasts

Defining Cost Element Code Part Demands on Project

Purpose: The purpose of this exercise is to show you how to define cost element code part demands on a particular project.

  1. Open the Project window and query for your project.
  2. Click on the PCE Code Part Info tab.
  3. Select the check boxes in the Account field for the LABOR and MAT cost elements.
  4. Click Save.

Creating Project Forecast

  1. Open the Project window and query for the project.
  2. Right-click and click Create Forecast.
  3. Select the value GEN from the List 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.

Creating Project Budget

  1. Open the Project window and query for the project.
  2. Right-click and click Create Forecast.
  3. Select the value BGT from the List 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.

Entering Budget/Forecast Lines

  1. Open the Project Forecast Info window and query for the project budget.
  2. Select the activity node in the project (left hand side of the window).
  3. Select LABOR in the Cost Element field of the Cost tab.
  4. Enter 10000 in the ETC field.
  5. Select 1440-LAB in the Account field.
  6. Select MAT in the Cost Element field of the Cost tab.
  7. Enter 10000 in the ETC field.
  8. Select 1440-MAT in the Account field.
  9. Save the record (F12).
  10. Switch to the Revenue tab.
  11. Select a revenue element in the Revenue Element.
  12. Enter 20000 in the ETC field.
  13. Select an account in the Account field.
  14. Save the record (F12)

Entering Approval Routing on Project Budget/Forecast

  1. Open the Project Forecasts window and query for the project budget that you created.
  2. Select the row, right-click and click Project Forecast Info.
  3. Open the Attachments panel.
  4. Right-click the Attachments panel list and click Select Approval Template.
  5. Use the List to select the approval template that you created, and click OK.