During the life of a contract, changes may take place that make the available contract budgets for the remaining work insufficient. When this happens, it is no longer practical to measure performance against the available budgets. Under these circumstances, you should formally reprogram or replan the project. You access the Project Replan utility from the Tools menu in the Project Maintenance window.
Formal reprogramming by a contractor may include replanning future work, replanning in-process work, or adjusting cost and/or schedule variances. Reprogramming allows the contractor to adjust the amount of budget for the remaining work to a more practical amount that provides realistic budget objectives, work control, and performance measurement.
The MPM replanning function conforms to government requirements, and can be tailored to meet the needs of the contracting parties. All changes to baseline budgets are fully documented and traceable.
Using the MPM replanning function, you can:
Replan an entire project, or specific WBS elements and legs
Replan smaller projects that do not require earned value
Nullify a cost variance
Nullify cost and schedule variances
Nullify a schedule variance
Establish ETC after entering baseline estimates
Set ETC equal to baseline after replanning the baseline
Replanning projects is described in Replanning Projects.