MAINTAIN PROJECT BUDGETS AND ETC

Use this screen to create project budgets; use Lookup to select an existing project for the creation of a budget. Use Query to retrieve any existing project budget.

Use this screen to get a summary of total project budget amounts. You cannot edit the amounts in this screen; they are derived from the detail subtasks accessed by the buttons at the bottom of the screen.

Use it when creating a project budget or any time you revise either your baseline or workplan budget.

When creating a new budget, click the INFO button after completing the Project, Name, and Revision fields and making a selection in the Budget Type group box. After saving the Labor and Units budgeting selections in the Total Project Budget group box, all buttons in the main screen are enabled. Use these buttons to open subtasks where you can enter budget data including hours, units, labor, and fees, direct and indirect.

Project

Use Query to select a project with an existing budget. You can also enter, or use or Find to select, a new project budget.

Name

This non-editable field displays the name of the selected project.

Revision

Enter, or use   to select, the revision for this workplan budget. This field is non-editable for baseline budgets, because there can be only one version of a baseline budget. Revisions are created in the Maintain Project Budget Revisions screen (Projects » Advanced Project Budgeting » Controls).

If no revision appears here, select the Allow Workplan Budgets check box in the Maintain Project Budget Settings screen to activate the revision function, then create revisions in the Maintain Project Budget Revisions screen (Projects » Advanced Project Budgeting » Controls).

Budget Type

Use the options in this group box to select either the Baseline or Workplan budget. 

Baseline

Select this option to create a baseline budget.

Workplan

Select this option to create a workplan budget.

Total Project Budget

The fields in this non-editable table contain amounts derived from data entered in the subtasks. Click the Recalculate button to refresh this screen whenever you make changes in any subtask.

Quantity

This column displays figures that represent labor hours and number of units. Data used in the calculation of this column comes from the Units and Labor subtasks.

Budget Amt

This column displays figures that are calculated from the Fee, Units, Labor, and Direct subtasks. These can be cost budget amounts or revenue (T& M) budget amounts, depending on the labor and unit budget selections made in the Project Budget Information subtask.

Approved COs

This column displays figures that are calculated from Change Orders (COs). Change orders included are those approved COs that are saved for this project in the Enter Change Orders screen (Projects » Project Setup » Project Master). Once you have approved and saved a new change order, the system inserts the change order into the project budget.

Indirect

This column displays figures that are calculated either based on the burden template entered in the Project Budget Information subtask or from a user-defined burden rate entered in the Direct or Labor subtasks.

Profit

Figures in this column for the Direct, Units, and Labor subtasks are calculated based on the multiplier entered in the Project Budget Information subtask or edited in a row of the Direct, Units, or Labor subtasks. Also, figures in this column for the fee row are calculated based on the fee percentage or fee amount entered in the Fee subtask.

Total Budget

Figures in this column are the sum of Budget Amt, Approved COs, Indirect, and Profit figures for each subtask and for the total project budget.

Direct

Figures in this row are calculated from the Direct subtask.

Labor

Figures in this row are calculated from the Labor subtask.

Units

Figures in this row are calculated from the Units subtask.

Fee

Figures in this row are calculated from the Fee subtask.

Total

Figures in this row are the sum of the Direct, Labor, Units, and Fee subtasks.

Undistributed Amount

This figure is the contract amount entered in the Modifications screen (Projects » Project Setup » Controls) minus the total budget amount. Depending on your budget design, this can represent a management reserve, contingency amount, amount not yet budgeted, or the project's profit.

Recalculate

Click this button to include all changes made in all of the subtasks in this screen. This process updates the Total Project Budget table with the budget's most current data.

Click the Recalculate button to update only the selected project budget (baseline or workplan). To update all budgets for one project or a range of projects, use the Project Budget Recalculation screen (Projects » Advanced Project Budgeting » Project Budget and ETC Master).

ETC

Click this button to open the ETC subtask, where you can forecast the Estimate To Complete (ETC) amounts for Direct, Subcontractor, Fee, Units, and Labor.

INDIRECT

Click this button to open the Indirect subtask, where you can recalculate your burden or indirect charges by fiscal year and pool for reporting purposes only. The calculation is derived based on the burden template selected in the Project Budget Information subtask. If a burden rate is changed on an individual subtask row, without using a burden template, the amounts from those edited rows will not be included.

FEES

Click this button to open the Fee subtask and enter fees in place of, or in addition to, using a multiplier for calculating profit. To calculate the profit for the project, use either a fee percentage or a fixed fee amount. The other fee amount can be used in addition to the fee percentage or the fixed fee. Click the Recalculate button after changing any amounts in this subtask.

UNITS

Click this button to open the Units subtask, where you can enter unit cost or unit price amounts, quantities, categories, and/or multipliers to calculate your unit budget. Click the Recalculate button after changing any amounts in this subtask.

LABOR

Click this button to open the Labor subtask. In this subtask, you can enter labor costs or bill rate, burden rate, labor hours, labor categories, vendor or employee data, and/or multipliers to calculate your labor budget. Click the Recalculate button after changing any amounts in this subtask.

DIRECT

Select this button to open the Direct subtask. In this subtask, you can enter direct costs, burden rate, vendor data, and/or multipliers to calculate your direct cost budgets. Click the Recalculate button after changing any amounts in this subtask.

INFO

Click this button to open the Project Budget Information subtask, where you can choose settings that will control the Maintain Project Budgets and ETC screen and its subtasks.

When you create a new budget, all other subtasks on this screen are inoperable until you have selected and saved a labor and unit budgeting method in this subtask.

Right-Click Functions

The right click functions are enabled when you highlight a row and right click the mouse.  The functions are outlined below.

Copy

To use the Copy function in the Direct, Units, and Labor subtasks, right click on a highlighted row and click Copy. The source row can be a total budget or period budget row. A total budget row contains zeros for fiscal year and period data. A period row contains a non-zero fiscal year and period.

Use the copy function when you want to copy the identical row data to another row. You can change all user-editable columns, but if you are creating rows with systematic differences, the Spread function may be more efficient. Use the drop-down lists to select the starting and ending fiscal years and periods. (All fiscal years and periods are available for selection.) Click the Copy button to copy the selected row.

Use the right mouse button to access the Select All function.

Escalate

To use the Escalate function in the Direct, Units, and Labor subtasks, right click on a highlighted row and select Escalate. The escalate function works only with period budget rows, never a total budget.

Use the Escalate function when you want to perform a blanket increase of a selected percentage to all highlighted rows. Highlight the rows in the subtask table to be escalated. Use the mouse or the Shift key to highlight the rows to be escalated.

Use the right mouse button to access the Select All function.

Units

Select this option to escalate only the unit amounts in the selected rows.

Rate

Select this option to escalate only the rate amounts in the selected rows. If the row selected contains both cost and price rates, each rate will escalate for the selected amounts.

Budget Amt

Select this option to escalate only the budget amounts in the selected rows.

Escalate %

Enter the percentage (up to eight characters, including the decimal separator) for the selected period budget rows. This percentage figure can either increase or decrease the amounts contained in the selected rows.

For this example, assume an amount on the budget row is 500,000.00.