Update Forecast Values

Prerequisites

  • You have either generated the estimate to complete (ETC) values (see Generate Forecast) or you have imported the current schedule data from your schedule tool provided you created your budget data using the baseline schedule (see Import Schedule Data) or imported the data from another system (see Create an Import Template and Import Data Using a Template).
  • When you are tracking changes to the budget baseline, be sure to Enable the Change Control Log before you start making any changes to work package forecast dates. When the change control log is enabled, the budget spread calendar month columns retain the work package baseline start and end dates in instances where the forecast end date extends past the baseline end date (there are additional future calendar month columns in the Forecast spread).

The following steps assume you are using the Standard View Ribbon Menu option to view the data and estimate to complete values are at the work package level. Remember than once work begins for a work package, the actual costs replace the ETC values for the current reporting period. ETC values exist for remaining work effort. This is any calendar month after the current reporting period.

  1. Select Home > Earned Value in the Navigation Menu. The main EVMax window displays.
  2. Select your project from the Project dropdown in the Ribbon Menu.
  3. Expand the WBS hierarchy as needed to view the work packages.
  4. Select the work package row in the top pane.
  5. Select the Resources tab in the bottom pane. The left pane displays the Budget, Earned, Actuals, and Forecast tabs

  6. Select the Forecast tab. A list of the resources assigned to the work package displays in the left pane.

    Tips:

    If the Forecast tab isn't active, estimate to complete values for the work package haven't been entered, generated, or imported yet.

    As an option, you can manually enter the forecast values. If the Forecast tab isn't active, you will first need to add the resource with a Forecast cost code. See Add a Resource Assignment as a guide. Select the Forecast tab instead of the Budget tab, then select a Forecast cost code instead of the budget cost code. Once the Forecast tab is active, you can enter the forecast values. See Enter Time Phased Values as a guide. Once again, select the Forecast tab to enter your base values. The rate class associated with the Forecast cost code determines the rates used to calculate direct and indirect costs.

  7. Select the resource row you want in the left pane of the Forecast tab.
  8. Select the Spreads tab in the right pane of the Forecast tab. A table of result rows and calendar month columns displays. The base result row and Total column are highlighted. The calendar month columns to the right of the Total column reflect the future work effort based on the work package budget or forecast end date.
  9. In the Total column, click in the base result value cell. Enter the revised total FTE/hours or direct cost base result value in the cell and press Enter. The Spread Curve dialog box displays.

  10. Click the Use Existing Spread radio button.

    Tip:

    Using the existing spread is recommended. Should you select the Use Spread option and select a different spread and confirm you want to do this, the work package spread setting is updated to match your selection in the dialog box. This impacts the budget spread as well as the ETC spread regardless whether you have the change control log enabled or not.

  11. Click OK.
  12. Repeat Steps 4 through 11 to edit values for other work packages and assigned resources.