Costpoint Online Help

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Contents of the Project Budgets/EACs Screen

Use the Projects Budgets / EACs screen to create/modify a budget or EAC for a project.

You can create multiple versions of a budget and assign a version code to each version you create. When multiple versions of a budget/EAC exist, you must mark one version as final.

Versions you mark as final will be used in reports and integrated with organization budgets.

For existing projects, you can open the application and then automatically query for the project.

You can modify an approved version of a budget/EAC without deleting versions created after that version. You can modify an approved budget/EAC by clearing the Approved check box and saving the record. The record you modified will have a Status of Complete and a new version of that budget/EAC with a status of Working will be created.

You can also create a new version of an approved budget based on a version created prior to the latest one. You can select any budget/EAC version and on the Actions drop-down menu, click Create Bud or Create EAC to create a new version of that budget/EAC.

Note: Depending on security configuration in Configuration Settings, for example, whether it is based on projects or Org ID, you may have read-only access to the projects that display.

The project budget tool provides an iterative automated process with methods a project manager can use to estimate the burdened costs of work to be done for a customer. The tool emulates an Excel workbook with tabs for the various burden cost pool categories of staff and vendor specified resources that are to be consumed during project execution.

Contents

Field Description
Project ID

Enter, or click , to select the project ID. The Project Name displays.

Include Expired Projects

Select this checkbox to include expired projects.

Show Budget/EAC Only

Select this checkbox to display only projects that have an existing budget or EAC.

Note: After you select the Project ID and Project Name, click to populate the Project Budgets Status Details table.
Show Hidden Budget/EAC

Select this checkbox to displays hidden budgets or EACs.

Project Budget Status

The table below describes the columns that display under Project Budgets Status. Note that in Table view the column order is configurable so the order of the field descriptions below may not match the order of the columns in your version.

Column Headings Description
Hide Row Select this check box if you want to hide the project budget/EAC version. The check box is only enabled for approved budget/EAC versions that are not marked as final.
Note: This column displays only if the Enable Project "Hide Bud/EAC" check box is selected on the Configuration Settings screen.
Actions The Action drop-down list contains the options that are available for the currently selected row. Options include:
  • Create BUD: Select this option to create a budget for a project. If project has already started, when you create a budget it pre-populates with the actuals if they exist.

    You can verify employee availability, labor rates, staff escalation, materials,  indirect rates and other project information from the subtasks.

    Note: There is no initialization done for Project Budget since live information is used and no need to freeze information. The rate for the employee is based on the first period of the budget and then escalated throughout the remaining part of the budget.
  • Create EAC: Select this option to create an EAC for a project. The system clones the selected budget and populate prior periods with actuals. It leaves the future periods with the budgeted amounts.

    You must have at least one approved version of a budget before you can create an EAC and you need to replace any generic staff in the budget before you can create an EAC.

    When you create EACs, it automatically displays historical costs by Period of Performance and individual resource, Input hours or costs in future periods by component.

  • Modify: Select this option to modify and manage the budget development process for a direct project. You can check the status of all budgets at lower levels of Work Breakdown Structure (WBS), such as Working, Completed, Approved, as well as other versions.
  • Commit: Select this button to commit the process after it has been completed. This option is enabled when the project has a Working status
  • Delete: Select this button to delete the process
The items available to select on the Actions drop-down list depend on the status of the selected budget or EAC. For example:
Budget Status Option
Working Commit
Incomplete Modify
Complete Modify
Approved Create Budget or Create EAC
Note: When no options are available on the menu, it indicates that the budget or EAC is not editable. For example, if a Working status budget is yellow, you are not the owner and therefore, you cannot commit it.
Project ID This non-editable field displays the Project ID numbers that the user is allowed to see based on the user’s security org ID.
Project Name The value in this field defaults from the project record in Projects.
Type This column displays the type of budget whether it is BUD or EAC.
Version If more than one budget exists, this non-editable field displays the version number of each. Each time you create a new budget or EAC, the version number will increment
Version Code Enter, or click , to select a code you want to assign to the current version. The Lookup displays version codes entered on the Manage Budget Version Codes screen. This code enables you to apply a description to the budget or EAC.

If the budget is imported from Excel, the version code defaults to N/A.

Final Version Select this check box to mark the version as final. For each budgeted level, you must mark one version with a Status of Complete as final. If no version is marked as final, an error message displays and the record cannot be saved.

Versions marked as final are included in reports. They are also integrated with an organization budget if your company uses the integrated method to calculate Org revenue.

Note: The integrated method is in effect when Org Budget Revenue Calculation in Configuration Settings is not selected as Org Revenue Calculation. Contact your System Administrator for questions regarding this setting, which is configured during initial system setup and should not be changed.
Status This column displays the status of all budgets at lower levels of Work Breakdown Structure (WBS).
  • Incomplete: Budget or EAC was created and saved but user has not yet selected Complete or Approved.
  • Complete: The budget was created, changes were saved, user clicked Complete check box, and then clicked Commit.
  • Approved: The user selected the Approved check box and clicked Commit.
  • Working: The user cleared the Approved check box and clicked Modify.

A red working status indicates you are the owner and can modify it. A yellow working status indicates that you, as a logged in user, are not the owner of the budget and cannot modify it.

Source Type The value in this field indicates how the budget or EAC was created. The values that display include:
  • Blank: Created manually.
  • Excel: Created from Import Budget/EACs from Excel. The version will be 0.
  • Bud: Created from a previous version of a budget.
  • EAC: Created from a previous version of an EAC.
Closed Period This column displays the date for the closed period.
Warnings For Working status budgets or EACs, this column displays the total number of warning messages that occurred.
Complete This field indicates whether or not the budget is complete.

When Complete is checked, it lets project budget approvers know the creator of the budget has completed the budget development process.

Approved This field indicates whether or not the budget is approved.
Enable Subtask Row Hide Select this check box if you want to hide the project budget/EAC rows in data entry subtasks. This check box is only enabled for budget/EAC versions that have a Working status.
Escalation For the first budget created, this field displays the labor escalation value that was set under Labor Escalation Value on the Project tab of the Configuration Settings screen.

If a different escalation was applied to a later budget, this field displays that percentage.

This value can be changed per budget, as for example, if on a given project employees receive raises according to the contract.

Escalation Month This field displays the point in time at which the escalation will take effect. It is based either on a month of the year or an employee's anniversary date.

For the first budget created, this field defaults to the value that was set under Labor Escalation Month on the Project tab of the Configuration Settings screen.

For later budgets, the field defaults to the value saved in the previous version.

To change the value for the current budget, click the drop-down arrow and choose either Employee's Anniversary Date or a month of the year.

Start Date This field displays the start date of the budget.
End Date This field displays the end date of the budget. Click to modify the end date.
Periods This field displays the number of periods assigned to the budget.
Cost Type This column displays the type of cost.
Project Type This column displays the type of project.
Burden Template The Burden Template column is only enabled for budgets that have a status of Working.

The value in this fields display as DEFAULT if your System Administrator has not designated a specific burden template as the default version. The system DEFAULT template is based on the Current FY Pool Configuration.

Click to select the Burden Template that you want to use to calculate burden for this Budget/EAC.

Burden templates are created and managed from Planning > Project Budgeting > Controls and Utilities > Manage Burden Templates.

Level Details This column displays the level details of the project.
Contract Rev This is the revenue amount uploaded from Costpoint for that project and represents the amount of revenue agreed to in the contract for that level of the project. This field is display-only and cannot be edited.
Funded Rev This is the amount of revenue uploaded from Costpoint for that project level. The value in this field is the same as the actual funded amount in the budget for that project level. This is a display-only field and cannot be edited.

The funded revenue amount may differ from the contract revenue, because the contract could be funded at different stages.

Distributed Rev Use this column to enter or modify the amount of revenue that will be distributed from the funded level of the project to the lower level.

Amounts entered for budgets or EACs at lower levels of the project are automatically summed and rolled up to the top level. During rollup, if EACs and budgets are both present, the EAC always takes precedence and is rolled up instead of the budget. This is true even if the budget is more recent than the EAC. After Costpoint Planning determines which one to use, the amount is rolled up regardless of whether the budget/EAC status is Incomplete, Complete, Approved, or Working.

Attention: For more information see Distributed and Budgeted Revenue
Budget Rev Use this column to view the revenue entered in the budget for each project level.

Amounts entered for budgets or EACs at lower levels of the project are automatically summed and rolled up to the top level. During rollup, if EACs and budgets are both present, the EAC always takes precedence and is rolled up instead of the budget. This is true even if the budget is more recent than the EAC. After Costpoint Planning determines which one to use, the amount is rolled up regardless of whether the budget/EAC status is Incomplete, Complete, Approved, or Working.

Attention: For more information see Distributed and Budgeted Revenue
Contract Start The value in this field defaults from the project record in Projects. It is the start date of the contract and is not editable.
Contract End The value in this field defaults from the project record in Projects. It is the end date of the contract and is not editable.
CTM Contract ID If the project is linked to a contract in Contract Management, this field displays the contract ID. Depending on user rights, click the hyperlinked ID number to edit the contract or view the contract (read-only).
Contract Number The value in this field defaults from the project record in Projects.
Manager The value in this field defaults from the project record in Projects. For security reasons, this person is automatically given rights to the budget/EAC for the purpose of creating and approving budgets and EACs.
Customer Name The value in this field defaults from the project record in Projects. It is the customer who owns the contract (for example, DoD, Army, and so on), and represents the entity that is sent the bill for work done.
Funded Cost The value in this field defaults from the project record in Projects and is the amount of the contract that has been funded.
Funded Fee The value in this field defaults from the project record in Projects and is the expected fee (or profit) that has been funded for the project.
Modified By This field displays the user ID of the person who last modified the budget.
Modified Date This field displays the date on which the budget was last modified.
CTM Contract Name This field displays the name the of the contract from Contract Management.

Legend

If the cells are highlighted in red or pink, that means the amount or aggregate sum has exceeded a rule or tolerance level. The amount is highlighted in Red if it is editable and it displays in Pink on fields that are not editable.

Attention: For more information see Distributed and Budgeted Revenue.

Subtasks

After you click Create Bud, the subtasks display. Click the subtasks links to display the lower level details of information.