1.1 Updates to Forecast Calculations
We’ve made some key updates to how forecast metrics are calculated. Previously, there was a closer tie between ETC and FTC (along with EAC & FAC), however we’ve now decoupled those so that FTC – or, Forecast to Complete – is independent of Percent Complete or Earned Value. It is now based on the Current Budget (BAC), and derives its forecast to complete strictly from forecasts that are input by the user.
Prior to any forecasts being entered, FTC is calculated as follows:
FTC = Current Budget - Actual Cost
This is effectively the same as Remaining Budget. However, users can override the FTC either at the resource level, or at the workpackage level. The Forecast At Complete calculation (FAC) is calculated as:
FAC = FTC + Actual Cost
FAC is also referred to as the “Forecast” or the “Forecast Budget” as it represents the user-driven forecast of how the project is going to play out.
Additionally, the Forecasted CPI is no longer editable and instead is a calculated value. It uses the FTC to back-calculate CPI, as follows:
FCPI = (BAC - EV)/FTC
Where, FCPI is “Forecast Cost Performance Index”, and BAC is “Current Budget”.
1.2 Updates to Resource Forecasting
- Update to Resource Forecast feature to display Composite Rate Type components when Actual Quantity is a Composite Rate Type
1.3 Bug Fixes in Estimating
- Bug fix re: de-selection of Resource column in Resource Estimate screen not ‘sticky’ after Save
- Bug fix re: Duplicating Project with Workpackage Level estimate results in Cost Estimate doubled and Revenue Estimate not duplicated
- Bug fix re: Revenue rate in detail estimate on Unit Price workpackage blanking out when changing workpackage quantity