This topic demonstrates how to enter a forecast through the Forecasting (on-line) module, with ECAC adjustments by cost code. ECAC stands for Estimated Cost at Completion. It is used within COINS for monthly cost forecasting and WIP reporting. Initial configuration will include the forecasted budget to populate this figure.
When setting up a job, in the Commercial Options tab, the Forecast Model field dictates which model will be used for on-line Forecasting. Choose the appropriate model/option (Figure 1).
Online Forecast – All Costs Single Tab will be used for this example (Figure 1).
Ignore the Forecast Template field, which is only used for off-line Forecasting.
Figure 1: Forecast Model Options
Configuring the Job Calendar only needs to be done the first time a job forecast is processed, or if more forecasting months need to be added to a job that was previously set up with too few.
2. Go to Forecasting (on-line) > Forecast Workbench through the tree menu (Figure 2).
3. Select the appropriate Forecast Period in the drop-down for Select Forecast Period. Click the hyperlink of the job number (Figure 2).
Figure 2: Select Forecast Period, Click Job Hyperlink
4. Click into the Forecast Calendar tab. Then, under Options in the top, right corner of the page, select Copy Standard Calendar (Figure 3).
Figure 3: Forecast Calendar Tab, Click Copy Standard Calendar
5. Choose a Start Period and an End Period, then click Next in the bottom right corner of the screen (Figure 4).
Figure 4: Select Start and End Period, Click Next
Figure 5: Record for Each Month Created
There needs to be a defined period on this tab to process a forecast for this job in each month.
For example, with the setup in Figure 5, the user cannot create a forecast for this job in May 2017 (Period Number 517) because that period doesn’t exist in the forecast calendar.
The Copy Standard Calendar function can be performed again as many times as needed if more months need to be added because the job ends up running longer than expected.
6. Back at the Forecast Workbench, job 10035 now shows in red because a forecast was due on 6/25/17. Before the standard calendar was copied to this job, it would not show as requiring a forecast for 617 (Figure 6).
7. Make sure that the Select Forecast Period is correct. If it is not, select the appropriate period from the drop-down, then click the funnel icon in the bottom right corner of the screen to “Apply Filter” (Figure 6).
Figure 6: Forecast Workbench, Select Forecast Period
8. If this is the first forecast for this job, click the row of the job to forecast, select Generate Forecast (New) from the drop-down in the action bar, and click the arrow to “Apply Action” (Figure 7).
Figure 7: Generate Forecast (New)
Alternately, if a forecast has already been processed for this job, and it is okay for ECAC adjustments to be copied from the previous forecast, then select Generate Forecast (Copy Previous) from the drop-down instead, and click the arrow to “Apply Action” (Figure 8).
Figure 8: Generate Forecast (Copy Previous)
Select the end date for the forecast Period (Figure 9).
Optionally, enter a Description of the forecast (Figure 9).
The Forecast Number and Prepared By will be automatically generated (Figure 9).
Notes are optional (Figure 9).
Select the checkboxes for Current Forecast for Period, if it is the current forecast, and Latest Forecast for Job, if it is the latest forecast (Figure 9).
To carry the ECAC adjustments from last month over into this month’s forecast, also select the checkbox for Copy Previous Period Manual Adjustments.
Then, click Next in the bottom right corner of the screen (Figure 9).
Figure 9: Enter in Forecast Information
8. This will generate a new forecast for this job. Click on the forecast number hyperlink to edit the forecast (Figure 10).
In this case, forecast 0001 is both the period 6/30/17 Forecast and the Latest Forecast, so both hyperlinks point to the same place.
Figure 10: Click on Forecast Number Hyperlink
Depending on the forecast model selected in step #1, the next step may look different.
9. After hyperlinking into the forecast, click on the Costs tab (Figure 11). This step may look different depending on the forecast model being used.
10. Click the Open folder in each appropriate line to update forecasted costs by cost code (Figure 11). Then, click the floppy disk to Save each line.
Figure 11: Update Lines Individually
11. Make the appropriate forecast changes. In this model, Dollars, Hours, and Quantity Installed can be updated. (Figure 12).
12. Then, click the floppy disk to Save (Figure 12).
Figure 12: Make Appropriate Changes, Click Save
13. Alternatively, highlight multiple lines, then click Concurrent to update multiple lines at once (Figure 13).
Figure 13: Update Multiple Lines Concurrently
14. Click Save to finish updating (Figure 14).
Figure 14: Make Appropriate Changes, Click Save
15. When done entering adjustments, go to the Details tab, and click Open at the bottom of the screen (Figure 15).
Figure 15: Click Open in Details Tab
16. Select the Forecast Input Complete checkbox, then click Save in the bottom right corner of the screen (Figure 16).
Figure 16: Select Forecast Input Complete Checkbox, Click Save
17. Go to the Options drop-down in the upper-right corner of the page and select Post Budgets and Memo Data (Figure 17).
If Post Budgets and Memo Data is missing under Options, make sure the Forecast Input Complete box has been checked (step #25).
Figure 17: Click Post Budgets and Memo Data
18. Select the checkbox for Update Budgets?, then click Next in the bottom right corner of the page (Figure 18).
Figure 18: Select Update Budgets? Checkbox, Click Next
19. The job’s forecast budget will now update. Go back to Forecasting (on-line) > Forecast Workbench, which will show the forecast as complete/closed (Figure 19).
20. Click on the job number hyperlink to view old forecasts (Figure 19).
Figure 19: Click Job Number Hyperlink in Forecast Workbench
21. Click into the Job Forecasts tab to view the full history of forecasts on this job (Figure 20).
22. A new forecast can be added from this page (Figure 20).
Figure 20: Job Forecasts Tab, Add a New Forecast
