Set Forecast Options
Admin User
There are two parts to the project level settings using the Manage Projects tab window, Settings tab and Cost Codes tab. How you set these options is dependent on how you intend to create and maintain your estimate to complete (ETC) data in the main EVMax window. You can use the Generate Forecast Ribbon Menu option in the main EVMax window at any time to create the time phased ETC data or you can import the data. The Generate Forecast option creates the time phased ETC values using a linear spread based on the budget or forecast dates.
The Manage Projects tab window options are listed and described below. As needed, you can change the project level settings as work progresses on a project.
Settings Tab - Deleting Forecast Values When the Calendar is Advanced (Adv Cal Delete Forecast)
| Options | Use Notes |
|---|---|
| All | The complete set of existing ETC values are cleared every time the calendar is advanced. Select this option when you intend to replace the existing content every reporting period. You may be importing the data from your scheduling tool or another system. |
| Current | Just the current reporting period ETC values are cleared since they are replaced with the current period actual costs. |
Cost Codes Tab - Forecast Cost Code, Forecast Method
These settings determine what happens when you click on Generate Forecast in the main EVMax window Ribbon Menu. You can also assign a different rate class for the ETC values in the Cost Codes tab. This is often done so the ETC values use the current forward pricing rates. See Rate Classes for more information on how to define a rate class and assign it to the forecast cost code.
| Options | Use Notes |
|---|---|
| PF=1 | "PF" is short for performance factor. PF=1 means performance is the same as the budget plan, so the ETC data matches the budget data. This is the best option when you intend to create your ETC data from the budget data. This is an easy way to generate the ETC at the beginning of a project and you intend to manually maintain the data as work progresses. |
| Manual Forecast (Retain EAC) | This means the estimate at completion (EAC) doesn't change as the actual costs are imported every reporting period. To use this option, enter and maintain an EAC value in the main EVMax window. The time phased ETC values are created based on the EAC value. |
| PF=1/(a*CPI+b*SPI) |
This means the ETC values are created based on user defined weightings using the Cost Performance Index (CPI) and Schedule Performance Index (SPI). For each performance index, you set the and options (a and b in the equation). For example, you can enter 0.60 (60%) in Factor A for the CPI and 0.40 (40%) in Factor B for the SPI. The factor values added together must equal 1. |
| PF=1/(CPI cum to date) | This means the ETC values are created based on the cumulative to date Cost Performance Index (CPI). |
| User Forecast | Use this option when you intend to import your ETC data and you don't want to use the Generate Forecast option. |
Notes:
For all Forecast Methods that use the performance factor (PF) as the basis to generate the ETC, the check box is enabled. Check this box when you want to calculate the time phased ETC values based on direct costs instead of hours (where applicable for labor resources).
Set the for all methods using a performance factor to Earned. This is the recommended default setting.
Be sure to Set the Current Period for a new project before you generate the ETC data. Setting the current date clears the ETC values.
You can clear the ETC values at any time. In the main EVMax window, select the Admin tab. Click in the Ribbon Menu, then select . A delete confirmation dialog displays. Click .