Edit Budgets and Forecasts

As a project manager, you can edit budget and forecast versions, including generated quantities and amounts, either by directly changing quantities and amounts, or by changing attributes that determine amounts.

Directly edit summary quantities and amounts at the budget or forecast line level, and edit quantities and amounts associated with period lines. You can also adjust amounts by a specific percentage at the version, line, or period level. When you adjust amounts at the version level, you can create another version based on adjusted values.

When you edit a forecast version, you can't change actual values. However, you can change estimate-to-complete (ETC) quantities and amounts. You can also change estimate-at-completion (EAC) quantities and amounts at the line level and for periods without actual amounts (that's, periods whose start date is on or after the ETC start date).

The following is an overview of changes that you can make to budget and forecast versions.

Modify Period Information

Apart from directly editing values for period lines, you can modify the periodic spread of amounts by changing the spread curve associated with planning resources at the plan line level. You can also increase or decrease the number of associated periods by editing from and to dates for budget or forecast lines.

If you've selected the Maintain manual spread on date changes check box while creating or editing a financial plan type or project plan type, then the periodic planning is retained in the plan version on plan line date modifications that you've made in the user interface. The Manual Spread column indicates if the manual periodic spread is retained for a resource.

Resource Assignments

You can modify a budget version by modifying resource assignments from the Edit Budget page. To modify resource assignments for a selected task, select Manage Assignments for Selected Tasks from the Actions menu. To replace resource assignments for selected tasks, select Replace Resource Assignments from the Actions menu.

Project managers or project administrators can replace resources on budgets, award budgets, or forecasts to keep their financial plans up-to-date. Suppose that a project role was originally used to create a high-level plan; you can replace the same with a specific named person. You can replace resources across plan lines. Optionally, a partial replacement from a specific period and later is also possible.

When you select a replacement resource, the previous resource is replaced on the selected tasks. This is similar to the capability that's available on the Manage Financial Project Plan page where you can replace resources whenever a resource becomes unavailable and can't complete the work.

Some points to consider:

For a None time-phased project budget or forecast, you can't perform a partial replacement and the replacement period value must be selected as the resource planning start date.
You can replace resources that are in the same resource class. For example, replace a project role with a named person or replace a named person with another named person.
Rates for replacement resources are retrieved based on the current job, organization, and role. Planned amounts are computed and rolled up at all levels on completion of the replacement action.

Refresh and Override Rates

When you refresh rates, rates are retrieved based on the current job, organization, and role of resources used in the planning process. The refresh considers the potential changes and provides rates based on the current information for each resource.

When project managers or project administrators perform a version level refresh action, the application skips resources that have been disabled on the resource breakdown structure. You can perform a line-by-line refresh if you intend to refresh disabled resources. Similarly, the Refresh Plan Amounts process skips resources that have been disabled on the resource breakdown structure.

Here are the options for refreshing cost and revenue rates when managing budget or forecast versions or editing versions.

Option	Available at Version Level	Description
Refresh all rows	Yes	Refresh rates for all plan lines in the selected financial plan version.
Refresh selected rows	No	Refresh rates for selected plan lines.
Refresh all periods	Yes	Refresh rates for all periods. Rates are refreshed for selected plan lines or for the financial plan version depending on whether you're refreshing all rows or selected rows. Note: While refreshing rates, the application considers all periods with amounts, including periods with net zero amounts.
Refresh for selected period and subsequent periods	No	Refresh rates for the selected period and subsequent periods. Rates are refreshed for selected plan lines or for the financial plan version depending on whether you're refreshing all rows or selected rows. Note: While refreshing rates, the application considers all periods with amounts, including periods with net zero amounts.

Note: Options to refresh period rates apply when the financial plan version supports planning by accounting or project accounting periods.

Some points to consider:

When you refresh actual amounts, the ETC amounts for forecast versions that you added manually using the Manual entry method are lost.
When reviewing period details, you can revise rates for all periods within the plan line or for the selected period and subsequent periods.
When the Revenue Generation Method is set to Manual entry, revenue amounts are retained even if the quantity for rate based resources is updated or rates get refreshed after refreshing amounts.
You can also manually override effective rates that are used to calculate cost and revenue amounts (for example, raw cost, burdened cost, and bill rates), and revise currency conversion attributes for individual budget or forecast lines.
When you override effective rates on budget or forecast lines, the associated period lines inherit these overridden rates.

You can also submit the Refresh Plan Amounts process to refresh the working versions of the financial project plan, budget, or forecast based on the existing project plan type or financial plan type rate settings. Before you submit the process, select the process parameters based on the projects you want to process for refresh of financial project plans, working budget versions, or working forecast versions. For example, use the Project Type or Project Manager parameter to narrow down the set of projects to be processed using a specific project type or project manager. Use the From Date parameter to choose the period from which the rates must be refreshed; the corresponding periods are used based on the calendar used in the financial project plan, budget versions, and forecast versions. Optionally, set the Detailed Report parameter to Yes to generate a detailed report to review the list of versions excluded by the scheduled process and the reason for exclusion.

Modify Values for Rate-Based and Nonrate-Based Resources

For planning resources that aren't rate-based, for example financial resources, you can only enter cost or revenue amounts. You can't change quantity and rate.

For rate-based planning resources, you can edit quantity, rates, or amounts. If you edit a value, associated values are automatically recalculated using predefined precedence rules, as described in the following table.

Changed Values	Precedence Rule
Quantity, rate, or both	Calculate amounts based on the quantity and the corresponding rate.
Amounts or a combination of amounts and quantity	Calculate rate from quantity when available, and then amounts.
Rate and amounts	Calculate the rate based on updated amounts and existing quantity. Your updates to the rate are overridden. In addition, if you specify rate and amounts, and not quantity, when creating a new plan line, rate is cleared and only amounts are saved. Caution: Quantity is never modified based on changes to rate or cost and revenue amounts.
Quantity, rate, and amounts	Calculate the rate based on updated amounts and existing quantity.

Refresh Currency Conversion Rates

You can retrieve the latest currency conversion rates during financial project planning and when creating project budgets and forecasts. For example, you may plan a project for four years with current conversion rates. Later, you can refresh the currency conversion rates based on the latest values.