Cost Projection

Form ID: (PM305000)

Note: This form is available only if the Construction feature is enabled on the Enable/Disable Features (CS100000) form.

You use this form to create revisions of cost projections for a project. Cost projections are used for tracking the project costs during project completion in comparison to the initially estimated costs. For more information, see Project Cost Projections: General Information.

Form Toolbar

The form toolbar includes standard buttons and form-specific buttons and commands. For the list of standard buttons, see Form Toolbar and More Menu. The form-specific commands can be shown as buttons on the form toolbar, as commands on the More menu, or in both places. These commands are listed in the following table in alphabetical order.


Command	Description
Approve	Changes the status of the cost projection from Pending Approval to Open. This command appears if all of the following are true: The Approval Workflow feature is enabled on the Enable/Disable Features (CS100000) form. An approval map for cost projection revision has been configured on the Approval Maps (EP205015) form and selected in the Cost Projection Approval Map box on the Approval tab of the Projects Preferences (PM101000) form. The cost projection revision has the Pending Approval status. For more information, see Managing Assignment and Approval Maps.
Copy Revision	Opens the Copy Revision dialog box, where you can create a copy of the cost projection revision and specify the ID to be used for the new revision.
Hold	Changes the status of the cost projection revision to On Hold. This command appears if the cost projection revision has the Open, Pending Approval, or Rejected status.
Project WIP Detail	Opens the Project WIP Detail (PM652500) report for the current financial period. The report is generated at the account group level of detail with the planned costs estimated based on the last released cost projection revision.
Reassign	Opens the Reassign Approval dialog box, in which you can specify a new approver to reassign the selected record to this approver if the reassignment of approvals is allowed in the related rule of the approval map on the Approval Maps (EP205015) form. This command appears if the Approval Workflow feature is enabled on the Enable/Disable Features form, an approval map for cost projection revision has been configured on the Approval Maps form, this map is selected in the Cost Projection Approval Map box on the Approval tab of the Projects Preferences form, and the cost projection revision has the Pending Approval status.
Refresh and Recalculate	Updates the budgeted values in the cost budget lines with the most recent values from the project, and recalculates the projected values based on the budgeted values according to the mode specified in the cost projection lines: For the lines with the Auto mode, the system recalculates all projected values. For the lines with the Manual Cost mode, the system recalculates the Projected Quantity to Complete, Projected Quantity at Completion, and Projected Variance Quantity values. For the lines with the Manual Quantity mode, the system recalculates the Projected Cost to Complete, Projected Cost at Completion, and Projected Variance Cost values. This command appears if the cost projection revision has the On Hold status.
Reject	Changes the status of the cost projection from Pending Approval to Rejected. This command appears if all of the following are true: The Approval Workflow feature is enabled on the Enable/Disable Features form. An approval map for cost projection revision has been configured on the Approval Maps form and selected in the Cost Projection Approval Map box on the Approval tab of the Projects Preferences form. The cost projection revision has the Pending Approval status. For more information, see Managing Assignment and Approval Maps.
Release	Releases the cost projection revision and updates the Projected Quantity to Complete, Projected Quantity at Completion, Projected Cost to Complete, Projected Cost at Completion, and Completed (%) values in the cost budget lines of the specified project. The cost projection revision is assigned the Released status. This command appears if the cost projection revision has the Open status.
Remove Hold	Changes the status of the cost projection revision to Open, which indicates that the cost projection is ready for processing, or to Pending Approval if cost projection approval is configured on the Projects Preferences form. This command appears if the cost projection revision has the On Hold status.

Table 1. Copy Revision Dialog BoxYou use this dialog box to create a new cost projection revision for the project by copying the existing one.
Element	Description
New Revision	The identifier of the new revision of the cost projection. The length of the identifier, which can consist of only alphanumeric characters and spaces, can be 10 or fewer characters.
Refresh Budget	A check box that indicates (if selected) that when creating a new cost projection revision, the system should add the cost budget lines with the latest budgeted values. If the check box is cleared, the system will create a new cost projection revision with the budgeted values from the revision that is being copied.
Copy Notes	A check box that indicates (if selected) that the system should copy to the newly created cost projection revision any notes attached to the current cost projection revision.
Copy Files	A check box that indicates (if selected) that the system should copy to the newly created cost projection revision any files attached to the current cost projection revision.
This dialog box has the following button.
OK	Creates a new revision of the cost projection as a copy of the selected revision, and closes the dialog box.
Cancel	Cancels the creation of a copy of the selected cost projection revision, and closes the dialog box.

Reassign Approval Dialog Box

In this dialog box, you can specify the new approver to whom you want to reassign the selected record or records.


Element	Description
New Approver	The name of the employee to whom you want to reassign the selected record or records.
Ignore Approver's Delegations	A check box that indicates (if selected) that the system will assign the selected records to the specified new approver but not to their delegate, even if the new approver is unavailable and has a delegation set up for the current date. If the check box is cleared and if the new approver is not available and has a delegation set up for the current date, the system will reassign the selected records to the delegate if the delegate is available. If the delegate is unavailable, the system will reassign the requests to the delegate of the delegate. The system will continue the search in this way until it assigns an approver that has no active delegations set up for the current date or it detects a loop in the chain of delegations (in which case you will have to specify a different approver).
This dialog box has the following buttons.
Reassign	Closes the dialog box and reassigns the selected record or records to the specified new approver if the reassignment of approvals is allowed in the related rule of the approval map on the Approval Maps (EP205015) form.
Cancel	Closes the dialog box and cancels the reassignment of the selected record or records to a new approver.

Summary Area

You can use the elements in this area to specify the settings of a new revision of the cost projection or to select an existing cost projection revision for a particular project and view its details.


Element	Description
Project	The project for which the cost projection revision is created.
Revision	The revision identifier of the cost projection. If you are creating a new revision, enter an alphanumeric identifier, which must be unique within the project. To view an existing revision, select the revision identifier after you select the project. The length of the identifier, which can consist of only alphanumeric characters and spaces, can be up to 10 characters.
Status	The status of the cost projection revision, which can be one of the following: On Hold: The user can edit the cost projection revision but cannot release it. Pending Approval: The cost projection revision has been taken off hold (that is, this status is assigned when Remove Hold is clicked on the form toolbar). This status is available only if the Approval Workflow feature is enabled on the Enable/Disable Features (CS100000) form and cost projection revision approval is configured on the Approval tab of the Projects Preferences (PO101000) form. Rejected: The employee who was assigned to approve the cost projection revision has rejected it. This status is available only if the Approval Workflow feature is enabled on the Enable/Disable Features form and cost projection approval is configured on the Approval tab of the Projects Preferences form. Open: The employee who was assigned to approve the cost projection revision has approved it. If no approval is configured for cost projections, the system assigns this status to the cost projection revision when Remove Hold is clicked on the form toolbar. Released: The cost projection revision has been released and cannot be edited.
Description	The description of the cost projection.
Cost Projection Class	The cost projection class of the cost projection revision. The class is defined on the Cost Projection Classes (PM203500) form and defines the detail level of the cost projection. The cost projection revision could include the same level of detail as the cost budget of the project for which the revision is created, or it could have less detail. Only a cost projection of a cost projection class with the same level of budget detail can be released. For more information, see Project Cost Projections: General Information.
Revision Date	The date when the cost projection revision was created.
Totals by Revision section
Budgeted Cost to Complete	The remainder of the budgeted cost for all cost budget lines added on the Details tab. This cost is calculated as the sum of the Cost to Complete amounts for all revision lines.
Projected Cost to Complete	The projected remainder of the budgeted cost for all cost budget lines added on the Details tab. This cost is calculated as the sum of the Projected Cost to Complete amounts for all revision lines.
Budgeted Cost at Completion	The budgeted final cost at the moment of project completion for all cost budget lines added on the Details tab. This cost is calculated as the sum of the Budgeted Cost amounts for all revision lines.
Projected Cost at Completion	The projected final cost at the moment of project completion for all cost budget lines added on the Details tab,. This cost is calculated as the sum of the Projected Cost at Completion amounts for all revision lines.
Cost Variance	The cost variance between the projected and budgeted costs for the current revision. This cost is calculated as the difference between the Projected Cost at Completion and the Budgeted Cost at Completion.
Totals by Project section
Budgeted Revenue	The budgeted revenue of the project, which is calculated as the sum of the Revised Budgeted Amount of all project revenue budget lines of the project for which the cost projection revision is created.
Actual + Committed Costs	The total of the actual and committed costs for all cost budget lines of the project for which the cost projection revision is prepared. The following formula is used to calculate this quantity: `Actual + Committed Costs = Actual Amount + Revised Committed Amount – Invoiced Committed Amount)`
Cost to Complete	The remainder of the budgeted cost that is currently available for the completion of all cost budget lines of the project. The following formula is used to calculate this cost: `Cost to Complete = Revised Budgeted Cost – (Actual Cost + Revised Committed Cost – Invoiced Committed Cost)`.
Cost at Completion	The projected final cost at the moment of project completion for all cost budget lines. This cost is calculated as the sum of the revised budgeted costs for all cost budget lines of the project.
Gross Profit	The calculated gross profit of the project, which is calculated as the difference between the Budgeted Revenue and the Cost at Completion.
Cost Variance	The cost variance by all cost budget lines of the project. The system calculates the variance by using the following formula: `Cost Variance (Totals by Project)= Projected Cost at Completion – Revised Budgeted Cost + Cost Variance (Totals by Revision)`
Projected Gross Profit	The projected gross profit of the project, which the system calculates by using the following formula: `Projected Gross Profit = Gross Profit – Cost Variance (Totals by Project)`

Details Tab

On this tab, you can add the cost budget lines of the project to the cost projection revision.

Table 2. Table Toolbar
The table toolbar includes standard buttons and buttons that are specific to this table. For the list of standard buttons, see Table Toolbar. The table-specific buttons are listed below.
Button	Description
Add Budget Lines	Opens the Add Budget Lines dialog box, where you can select the cost budget lines to be added to the cost projection revision.
View Commitment Details	Opens the Commitments (PM306000) form in a pop-up window. This form shows the list of commitments that correspond to the selected cost budget line.
View Transactions	Opens the Project Transactions (PM304000) form in a pop-up window. This form shows the list of project transactions that correspond to the selected cost budget line.
History	Opens the History dialog box, where you can review the history of cost projection revisions of the same cost projection class for the selected cost budget line.

Table 3. Add Budget Lines Dialog BoxYou use this dialog box to add the cost budget lines of the project to the current cost projection revision.
Element	Description
Included	An unlabeled check box that you select to include this cost budget line in the current cost production revision.
Project Task	The project task to which the cost budget line relates.
Inventory ID	The stock or non-stock inventory item that is associated with the cost budget line.
Cost Code	The cost code that is associated with the cost budget line.
Account Group	The expense account group of the cost budget line.
Description	The description entered for the cost budget line.
UOM	The unit of measure of the cost budget line.
Original Budgeted Quantity	The original budgeted quantity of the cost budget line.
Original Budgeted Amount	The original budgeted amount of the cost budget line.
Budgeted CO Quantity	The total quantity of the lines of released change orders that are associated with the cost budget line.
Budgeted CO Amount	The total amount of the lines of released change orders that are associated with the cost budget line.
Revised Committed Quantity	The total revised quantity of the commitments that are associated with the cost budget line.
Revised Committed Amount	The total revised amount of the commitments that are associated with the cost budget line.
Committed Received Quantity	The total received quantity of the commitments that are associated with the cost budget line.
Committed Invoiced Quantity	The total invoiced quantity of the commitments that are associated with the cost budget line.
Committed Invoiced Amount	The total invoiced amount of the commitments that are associated with the cost budget line.
Committed Open Quantity	The total open quantity of the commitments that are associated with the cost budget line.
Actual Quantity	The total quantity of the released project transactions that correspond to the cost budget line.
Actual Amount	The total amount of the released project transactions that correspond to the cost budget line.
Actual + Open Committed Amount	The sum of the actual amount and committed open amount for the cost budget line.
The dialog box has the following buttons.
Add Lines	Adds the included cost budget lines to the cost projection revision.
Add Lines & Close	Adds the included cost budget lines to the cost projection revision and closes the dialog box.
Close	Closes the dialog box without making additions to the cost projection revision.

Table 4. History Dialog BoxThe table toolbar in the dialog box includes only standard buttons. For the list of standard buttons, see Tables.
Column	Description
Revision	The identifier of the cost projection revision.
Revision Date	The date of the cost projection revision.
Budgeted Quantity	The budgeted quantity of the cost budget line in the revision of the cost projection.
Budgeted Cost	The budgeted cost of the cost budget line in the revision of the cost projection.
Actual + Committed Open Quantity	The sum of the actual quantity and committed open quantity of the cost budget line in the revision of the cost projection.
Actual + Committed Open Cost	The sum of the actual cost and committed open cost of the cost budget line in the revision of the cost projection.
Quantity to Complete	The remainder of the budgeted quantity of the cost budget line that is currently available for completion in the revision of the cost projection. The following formula is used to calculate this quantity: `Quantity to Complete = Budgeted Quantity – (Actual Quantity + Revised Committed Quantity – Invoiced Committed Quantity)`.
Cost to Complete	The remainder of the budgeted cost of the cost budget line that is currently available for completion in the revision of the cost projection. The following formula is used to calculate this cost: `Cost to Complete = Budgeted Cost – (Actual Cost + Revised Committed Cost – Invoiced Committed Cost)`.
Projected Quantity to Complete	The projected remainder of the budgeted quantity for the cost budget line in the revision of the cost projection, which by default is equal to the Quantity to Complete.
Projected Cost to Complete	The projected remainder of the budgeted cost for the cost budget line in the revision of the cost projection, which by default is equal to the Cost to Complete.

Table 5. Table Columns
Column	Description
Account Group	The expense account group of the cost budget line.
Cost Task	The project task to which the cost budget line relates.
Inventory ID	The stock or non-stock inventory item that is associated with the cost budget line.
Description	The description entered for the cost budget line.
UOM	The unit of measure of the cost budget line.
Budgeted Quantity	The budgeted quantity of the cost budget line specified in the project.
Budgeted Cost	The budgeted cost of the cost budget line specified in the project.
Actual + Committed Open Quantity	The sum of the actual quantity and committed open quantity of the cost budget line specified in the project.
Actual + Committed Open Cost	The sum of the actual cost and committed open cost of the cost budget line specified in the project.
Quantity to Complete	The remainder of the budgeted quantity of the cost budget line that is currently available for completion. The following formula is used to calculate this quantity: `Quantity to Complete = Budgeted Quantity – (Actual Quantity + Revised Committed Quantity – Invoiced Committed Quantity)`.
Cost to Complete	The remainder of the budgeted cost of the cost budget line that is currently available for completion. The following formula is used to calculate this cost: `Cost to Complete = Budgeted Cost – (Actual Cost + Revised Committed Cost – Invoiced Committed Cost)`.
Projected Quantity to Complete	The projected remainder of the budgeted quantity for the cost budget line, which is calculated by the following rule: `Projected Quantity to Complete = Budgeted Quantity - (Actual + Unbilled Committed Quantity)` if `Budgeted Quantity - (Actual + Unbilled Committed Quantity)` is greater than 0; otherwise, `Projected Quantity to Complete = 0` The system recalculates this quantity if you change any other projected value in the line and the recalculation mode in the Mode box in the line is set to Auto or Manual Cost. If you override this value, the corresponding values in the cost budget line will be recalculated based on the recalculation mode of the line.
Projected Cost to Complete	The projected remainder of the budgeted cost for the cost budget line, , which is calculated by the following rule: `Projected Cost to Complete = Budgeted Cost - (Actual + Unbilled Committed Cost)` if `Budgeted Cost - (Actual + Unbilled Committed Cost)` is greater than 0; otherwise, `Projected Cost to Complete = 0` The system recalculates this cost if you change any other projected value in the line and the recalculation mode in the line is set to Auto or Manual Quantity If you override this value, the corresponding values in the cost budget line will be recalculated based on the recalculation mode of the line.
Projected Quantity at Completion	The projected final quantity at the moment of project completion for the cost budget line. By default, the following formula is used to calculate this quantity: `Projected Quantity at Completion = Projected Quantity to Complete + Actual Quantity + Revised Committed Quantity – Invoiced Committed Quantity`. If you override this value, the corresponding values in the cost budget line will be recalculated based on the recalculation mode of the line.
Projected Cost at Completion	The projected final cost at the moment of project completion for the cost budget line. By default, the following formula is used to calculate this cost: `Projected Cost at Completion = Projected Cost to Complete + Actual Cost + Revised Committed Cost – Invoiced Committed Cost`. If you override this value, the corresponding values in the cost budget line will be recalculated based on the recalculation mode of the line.
Projected Variance Quantity	The difference between the Projected Quantity at Completion and the Budgeted Quantity. If you override this value, the corresponding values in the cost budget line will be recalculated based on the recalculation mode of the line.
Projected Variance Cost	The difference between the Projected Cost at Completion and the Budgeted Cost. If you override this value, the corresponding values in the cost budget line will be recalculated based on the recalculation mode of the line.
Projected Completed (%)	The projected percentage of completion for the cost budget line. By default, the following formula is used to calculate this percentage: `Projected Completed (%) = (Actual + Committed Open Cost) / Projected Cost at Completion * 100%`. If you override this value, the corresponding values in the cost budget line will be recalculated based on the recalculation mode of the line.
Mode	The mode that specifies how the amounts and quantities are recalculated for the cost budget line. The following options are available: Auto: The system automatically recalculates projected quantities and costs if any other projected value in the cost budget line is changed. Manual: The system does not recalculate projected quantities and costs if any other projected value in the cost budget line is changed. Manual Quantity: The system automatically recalculates projected costs if any other projected value in the cost budget line is changed; the Projected Quantity to Complete, Projected Quantity at Completion, and Projected Variance Quantity values are preserved. Manual Cost: The system automatically recalculates projected quantities if any other projected value in the cost budget line is changed; the Projected Cost to Complete, Projected Cost at Completion, and Projected Variance Cost values are preserved.

Approvals Tab

This tab displays information about the approval history of the cost projection revision. If approval is configured, the cost projection revision is automatically assigned for approval when it is taken off hold. Authorized users approve or reject cost projection revisions by using the Approvals (EP503010) form.

Note: This tab is available only if the Approval Workflow feature is enabled on the Enable/Disable Features (CS100000) form and an approval map is specified for cost projections in the Cost Projection Approval Map box on the Approval tab of the Projects Preferences (PJ101000) form. If no map is specified in this box, cost projections do not require approval.

The table toolbar includes only standard buttons. For the list of standard buttons, see Table Toolbar.


Column	Description
Assignee ID	The employee ID of the person in the specified workgroup who is authorized to approve the cost projection revision.
Assigned To	The name of the person in the specified workgroup who is authorized to approve the cost projection revision.
Workgroup	The workgroup assigned to approve the cost projection revision.
Approver By (ID)	The employee ID of the person who actually approved the cost projection revision.
Approved By	The name of the employee in the specified workgroup who actually approved the cost projection revision.
Approval Date	The date when the cost projection revision was approved.
Status	The status of the cost projection revision after the approver was assigned or the approval was performed.
Reason	The reason the cost projection revision has been approved or rejected.