You can revise baseline estimates, ETC, or actuals in one process using the Reprice utility. Repricing is usually performed when there are major modifications to burden templates or rate tables. For example, overhead rates might change because of a new union contract. The new rates would affect existing baseline estimates and ETC projections, and any existing actuals. They would all need to be recalculated based on the new rates.
You can also use the Reprice utility to run what if scenarios against copies of your project. You can easily shift resources and change direct or indirect rates to produce different pricing scenarios.
When repricing, you can apply the following restrictions:
Reprice any combination of baseline, ETC, and actuals
Limit the repricing to one or more legs of a WBS
Limit to a specific performing, responsible, or resource department
Specify a time period
Target the repricing by element of cost (EOC), class of cost (COC), or resource
You use the Reprice Conditioning grid in the Reprice dialog box to select the elements of cost, classes of costs, or resources that will be included in the reprice, and to select the value(s) to hold constant during the reprice.
MPM uses the appropriate baseline, ETC, or actuals rate tables designated for the project in the Project Maintenance window. If you want to use a different rate table, make the change in the Project Maintenance window before running the Reprice utility. If you change a rate table, MPM uses that rate table for all functions from that point forward.
If your project is using Fee by WBS, you should not hold price constant when repricing. If you do, new fee rates may not be applied.
Estimate Reprice modifies the entire estimate for any WBS elements you select that fall within the specified time frame. Estimates prior to the current date (history) will be recalculated if they fall within the specified time frame and meet the other conditions set in the Estimate Reprice conditioning grid.
Actuals Reprice searches for the burden template from the resource entered for the actual, and if that doesn't exist, searches for the department entered for the actual. Once the right burden template is selected, the Actuals Reprice functions the same as the Estimate Reprice. Actuals Reprice only modifies the detail actuals; it does not affect the estimates. Actuals Reprice only allows you to hold hours, prime, or hours and prime constant. If no date range is defined, the reprice begins with the start of the earliest detail actuals and continues until the end of the latest detail actuals (based on any other selections such as WBS Leg). Actuals Reprice does not perform date rollup. Only actuals entered by resource will be repriced. If actuals were entered by EOC only, they will not be repriced.
To reprice a project, complete the following steps:
Select a project in the Project Maintenance window by clicking on the row number.
From the Project Maintenance window, click Tools » Reprice. MPM displays the Estimate Reprice dialog box.
Select the data you want to reprice: Baseline, ETC, or Actuals. If you select Baseline and/or ETC, Actuals is grayed. If you select Actuals, Baseline and ETC are grayed.
Select the WBS leg you want to reprice by clicking the Browse button. To reprice the entire WBS, leave this field blank.
Select the type of department you want to use to limit the reprice: Performing, Responsible, or Resource. If you select Performing or Responsible, MPM ignores WBS elements that do not match. If you select Resource, MPM ignores estimates that do not match that resource.
After selecting the type of department, select a specific department from the drop-down list box.
If you want to restrict the reprice to a specific time period, enter From and Through dates. To reprice the selected project data from start to finish, leave these fields blank.
Choose to condition the estimate by Element of Cost (EOC), Class of Cost (COC), or Resource. When you select one of the above options, MPM displays all elements defined for the category in the Reprice Grid on the right side of the dialog box. For example, if you select Element of Cost, MPM displays all elements of cost in the grid.
Select the item(s) you want to include in the reprice by clicking the corresponding check box in the Include column. MPM will place a check mark in the fields you select. To clear the selection, click the field again.
For each item you include, select the value you want to hold constant during the reprice from the corresponding Maintain field drop-down list box in the grid.
To begin the reprice, click OK.
If MPM encounters an error in the data, you are given the opportunity to terminate or continue the process. After the process has completed or been terminated, MPM produces the Reprice Error Report listing all errors encountered.