Project Budgets/EACs

Use the Projects/Budgets EACS screen to create/modify budget or EAC for a project. You can open the application and then query for the project automatically.

Depending on security configuration in MAM10, for example, whether it is based on projects or Org ID, you may have read-only access to the projects that display.

The project budget tool provides an iterative automated process with methods a project manager can use to estimate the burdened costs of work to be done for a customer. The tool emulates an Excel workbook with tabs for the various burden cost pool categories of staff and vendor specified resources that are to be consumed during project execution.

Project ID

Enter, or click , to select the project ID.

Project Name

Enter, or click , to select the project name.

Include Expired Projects

Select this check box to include expired projects.

After you select the Project ID and Project Name, click to populate the Project Budgets Status Details table.

Create BUD

Select this button to create a budget for a project. After you click this button the subtasks displays. You can verify employee availability, labor rates, staff escalation, materials,  indirect rates and other project information automatically.

There is no initialization done for Project Budget since live information is used and no need to freeze information. The rate for the employee is based on the first period of the budget and then escalated throughout the remaining part of the budget.

Create EAC

Select this button to create an EAC for a project. The system clones the selected budget and populate prior periods with actuals. It leaves the future periods with the budgeted amounts.

You must have at least one approved version of a budget before you can create an EAC and you need to replace any generic staff in the budget before you can create an EAC.

When you create EACs, it automatically displays historical costs by Period of Performance and individual resource, Input hours or costs in future periods by component.

Modify

Select this button to modify and manage the budget development process for a direct project. You can check the status of all budgets at lower levels of Work Breakdown Structure (WBS), such as Working, Completed, Approved, as well as other versions.

Commit

Select this button to commit the process after it has been completed. This option is enabled when the project has a Working status.

Delete

Select this button to delete the process.

Project Budgets/EAC Detail Tables

The table below describes the columns that display for the Project Budgets Status Details table.

Column Headings

Description

Project ID

This non-editable field displays the Project ID numbers that the user is allowed to see based on the user’s security org ID.

Type

This column displays the type of budget whether it is BUD or EAC.

Version

If more than one budget exists, this non-editable field displays the version number of each.

Status

This column displays the status of all budgets at lower levels of Work Breakdown Structure (WBS).

  • Incomplete – Budget or EAC was created and saved but user has not yet selected Complete or Approved.

  • Complete – The budget was created, changes were saved, user clicked Complete check box, and then clicked Commit.

  • Approved – The user selected the Approved check box and clicked Commit.

  • Working – The user cleared the Approved check box and clicked Modify.

A red working status indicates you are the owner and can modify it. A yellow working status indicates that you, as a logged in user, are not the owner of the budget and cannot modify it.

Closed Period

This column displays the date for the closed period.

Complete

This field indicates whether or not the budget is complete.

When Complete is checked, it lets project budget approvers know the creator of the budget has completed the budget development process.

Approved

This field indicates whether or not the budget is approved.

Escalation

If an escalation was applied to the budget, this field displays the escalation percentage.

Start Date

This field displays the start date of the budget.

End Date

This field displays the end date of the budget. Click to modify the end date.

Periods

This field displays the number of periods assigned to the budget.

Cost Type

This column displays the type of cost.

Project Type

This column displays the type of project.

Burden Template

The Burden Template column is only enabled for budgets that have a status of Working. Click to select the burden template that you want to use to calculate burden for this Budget/EAC.

The Default Template is based on the standard Costpoint pool setup. When you select a burden template that is not the Default one, Planning overrides all standard Costpoint pool setup for the fiscal years included in the template. Exceptions to this include the following:

  • If the template does not include all the existing fiscal years in the budget’s period of performance, Planning uses the Costpoint pool setup for the missing fiscal year(s), even if the Costpoint pool for that year is not set up in its entirety.

  • If the template does not include future fiscal years, nor do they exist within Costpoint’s pool setup, Planning uses the latest setup from the prior fiscal year, either from the Burden Template or from Costpoint’s pool setup, respectively.

For example, assume that the period of performance (POP) for the Project budget or EAC is 1/1/2018 – 12/31/2022 and that the Costpoint Pool setup extends through 2021. The following scenarios and results illustrate the differences noted in the bullets above.

Scenario 1: You choose the Default template

If you select the Default Template, the Costpoint Pool setup applies for all fiscal years.

Scenario 2: The Burden Template is completed for 2019 through 2020

In this scenario, Planning does the following for each fiscal year (FY) of the POP:  

  • FY 2018 – Uses Costpoint Pool Setup (Default Template)

  • FY 2019 – Uses burden template

  • FY 2020 – Uses burden template

  • FY 2021 – Uses Costpoint Pool Setup (Default Template)

  • FY 2022 – Uses Costpoint Pool Setup because it was last used with setup.

Scenario 3: The Burden Template is completed for 2020 and 2021

In this scenario, Planning does the following for each fiscal year (FY) of the POP:

  • FY 2018 – Uses Costpoint Pool Setup (Default Template)

  • FY 2019 – Uses Costpoint Pool Setup (Default Template)

  • FY 2020 – Uses burden template

  • FY 2021 – Uses burden template

  • FY 2022 – Uses burden template because it was last used with setup.

Burden templates are created and managed from Planning » Project Budgeting » Controls and Utilities » Manage Burden Templates.

Level Details

This column displays the level details of the project.

Contract Rev

This is the revenue amount uploaded from Costpoint for that project and represents the amount of revenue agreed to in the contract for that level of the project. This field is display-only and cannot be edited.

Funded Rev

This is the amount of revenue uploaded from Costpoint for that project level. The value in this field is the same as the actual funded amount in the budget for that project level. This is a display-only field and cannot be edited.

The funded revenue amount may differ from the contract revenue, because the contract could be funded at different stages.

Distributed Rev

Use this column to enter or modify the amount of revenue that will be distributed from the funded level of the project to the lower level.

Amounts entered for budgets or EACs at lower levels of the project are automatically summed and rolled up to the top level. During rollup, if EACs and budgets are both present, the EAC always takes precedence and is rolled up instead of the budget. This is true even if the budget is more recent than the EAC. After Costpoint Planning determines which one to use, the amount is rolled up regardless of whether the budget/EAC status is Incomplete, Complete, Approved, or Working.

For more information see Distributed and Budgeted Revenue

Budget Rev

Use this column to view the revenue entered in the budget for each project level.

Amounts entered for budgets or EACs at lower levels of the project are automatically summed and rolled up to the top level. During rollup, if EACs and budgets are both present, the EAC always takes precedence and is rolled up instead of the budget. This is true even if the budget is more recent than the EAC. After Costpoint Planning determines which one to use, the amount is rolled up regardless of whether the budget/EAC status is Incomplete, Complete, Approved, or Working.

For more information see Distributed and Budgeted Revenue

Legend

If the cells are highlighted in red or pink, that means the amount or aggregate sum has exceeded a rule or tolerance level. The amount is highlighted in Red if it is editable and it displays in Pink on fields that are not editable. For more information see Distributed and Budgeted Revenue.

Subtasks

After you click Create Bud, the subtasks displays. Click the Staff Escalation, Materials, Subcontractor, Material Handling, Travel, Consultant, Other Direct Costs, Subcontractor, Consultant Hours, Service Centers, Revenue Setup/Ceiling, Burdened Cost, Funding and Project Labor Category subtasks links to display the lower level details of information.

Related Procedures

Create EACs Based on Current Period

Create a Budget from EAC