to select, the starting value for the
range you want to include. If you select All
or From Beginning in the Range Option field,
this field will be inactive. Use this screen to create or update Latest Revised Estimate at Completion (LREAC) amounts from project budgets. When running this utility, you have three options.
You can update estimate-to-complete amounts with Budget minus Incurred amounts. If you select this option, the utility will calculate two amounts. It will first copy the budgeted amount for each project/account/org into the LREAC amount. It will then subtract incurred costs from this amount to arrive at project ETC amounts. If you select this option, you must first run the Update Incurred Cost for ETC screen (Projects»Budgeting and ETC»Estimate to Complete), so that ITD Incurred fields are current.
The second option is to identify a percent complete for the project. If you know, for example, that a specific project is 30 percent complete, you can use that number to arrive at the project LREAC amounts. If you enter a % Compl, the utility recognizes costs incurred as being this percent of total LREAC amounts. It will calculate LREAC amounts and update the field with new values. The utility will subtract incurred costs from LREAC estimates to arrive at estimate-to-complete amounts.
You can also update project revenue with estimate-to-complete or LREAC amounts. If you select the Update Revenue with LREAC or ETC check box, the utility evaluates the revenue method selected for the project. If the revenue method is based on project ETC, the utility will sum project estimate-to-complete amounts and update the Basic Revenue Info screen (Projects»Project Setup»Revenue Setup) with this amount. If the revenue method is based on project EAC, the utility will sum project LREAC amounts and update the Basic Revenue Info screen with these amounts.
You must enter project budgets before running this utility. You must also update incurred costs with current amounts, so that calculated LREAC amounts reflect current costs. To update incurred costs, run the Update Incurred Cost for ETC screen (Projects»Budgeting and ETC»Estimate to Complete) for all projects whose ETCs you plan to revise, before running this screen. After you run this screen, you can make adjustments to LREAC or ETC amounts in any of the screens where LREAC or ETC amounts are maintained in Costpoint Budgeting and ETC.
Use the fields in this group box to limit the projects that will be affected by this utility.
Select the range of projects to revise. Valid options are:
All
One
Range
From Beginning
To End
Enter, or use to select, the starting value for the
range you want to include. If you select All
or From Beginning in the Range Option field,
this field will be inactive.
Enter, or use to select, the ending value for the range
you want to include. If you select All,
One, or To
End in the Range
Option field, this field will be inactive.
In this group box, you can select whether or not the ETC files will be updated for amounts, PLC hours, or GLC hours. If you update ETC files with PLC or GLC hours, you must enter budgets for hours by project/PLC or project/GLC. You can also update project revenue with ETC or LREAC amounts, if you have set up Revenue Formulas that calculate based on ETC or EAC.
Select this check box to update the Est-to Compl fields in the Maintain Estimate-to-Complete Amounts screen (Projects»Budgeting and ETC»Estimate to Complete).
Select this check box to update project revenue with ETC or LREAC accounts. The projects to be updated must have revenue formulas based on Estimate To Complete or Estimate At Completion.
Select this check box to update ETC hours data in the Maintain Estimate-to-Complete PLC Hours (Projects»Budgeting and ETC»Estimate to Complete) or the Maintain Estimate-to-Complete GLC Hours screen (Projects»Budgeting and ETC»Estimate to Complete). If you select this check box, you must select one of the following options to indicate the hours to be updated.
Select this option to update estimate-to-complete hours for PLCs.
Select this option to update estimate-to-complete hours for GLCs.
You can update Project ETCs with a project-wide percentage complete, or with budget amounts minus incurred costs.
Select this option to update your project ETCs with a percent complete.
Select this option to update your project ETCs using the budgeted amounts less the incurred amounts. If you choose this option, first enter and/or review your project budgets. You must also run the Update Incurred Cost for ETC screen (Projects»Budgeting and ETC»Estimate to Complete) to update your incurred cost information with current amounts. Otherwise, your ETC calculations will not be accurate.
If you selected the Update LREAC with Percent Complete option as your Revision Option, enter the percentage complete in this field.
Use this group box to enter the revision date. This date will assist you when you are assessing the age of the data in the Maintain Estimate-to-Complete Amounts screen (Projects » Budgeting and ETC » Estimate to Complete).
The system date will default in; however, you can modify this. This date will be stored as the last LREAC update date.