COMPUTE ESTIMATE TO COMPLETE

Use this screen to create or update Latest Revised Estimate at Completion (LREAC) amounts from project budgets. When running this utility, you have three options.

  1. You can update estimate-to-complete amounts with Budget minus Incurred amounts. If you select this option, the utility calculates two amounts. It first copies the budgeted amount for each project/account/org into the LREAC amount. It then subtracts incurred costs from this amount to arrive at project ETC amounts. If you select this option, you must first run the Update Incurred Cost for ETC screen, so that ITD Incurred fields are current.

  2. The second option is to identify a percent complete for the project. If you know, for example, that a specific project is 30 percent complete, you can use that number to arrive at the project LREAC amounts. If you enter a % Compl, the utility recognizes costs incurred as being this percent of total LREAC amounts. It calculates LREAC amounts and update the field with new values. The utility subtracts incurred costs from LREAC estimates to arrive at estimate-to-complete amounts.

  3. You can also update project revenue with estimate-to-complete or LREAC amounts. If you select the Update Revenue with LREAC or ETC check box, the utility evaluates the revenue method selected for the project. If the revenue method is based on project ETC, the utility sums project estimate-to-complete amounts and updates the Manage Revenue Information screen with this amount. If the revenue method is based on project EAC, the utility sums project LREAC amounts and updates the Manage Revenue Information screen with these amounts.

You must enter project budgets before running this utility. You must also update incurred costs with current amounts, so that calculated LREAC amounts reflect current costs. To update incurred costs, run the Update Incurred Cost for ETC screen for all projects whose ETCs you plan to revise, before running this screen. After you run this screen, you can make adjustments to LREAC or ETC amounts in any of the screens where LREAC or ETC amounts are maintained in Costpoint Budgeting and ETC.

For more information about Costpoint's Estimate-to-Complete (ETC) feature, see the "Estimate to Complete" topic.

Location

Identification

Use the fields in this block to create a new parameter ID or to retrieve a previously saved parameter ID. A parameter ID represents a set of screen selection parameters. After you have saved a parameter ID and its related parameters, you can retrieve them using Query.

You can use the retrieved parameters to produce reports and run processes more efficiently and with greater consistency. The saved parameters are also useful and necessary when you want to run the process as part of a batch job. Many users save a unique set of parameters for each different way they run a report or process. When you select a previously saved parameter ID or parameter description, the associated saved screen selection parameters automatically display as selection defaults. The page setup and print options are also included in the saved parameter ID if there are any. You can change any of the associated selection defaults as necessary.

Parameter ID

Enter, or click to select, a parameter ID of up to 15 alphanumeric characters. Choose characters for your parameter ID that help identify the type of selections you made in the screen, such as PERIOD or QUARTERLY.

When you save your record, all the selections made in the screen are stored with the parameter ID. Later, you can retrieve the parameter using Query.

You can use the parameter to run the process more efficiently because you can select the parameter ID with its previously defined screen selections. After the default selections display in the screen, you can override the defaults.

Description

Enter, or click to select, a parameter description of up to 30 alphanumeric characters.

Selection Ranges

Projects

Use the fields in this group box to limit the projects that are affected by this utility.

Option

Select the range of projects to revise. Valid options are:

Start

Enter, or click to select, the starting value for the range you want to include. If you select All or From Beginning in the Option field, this field is inactive.

End

Enter, or click to select, the ending value for the range you want to include. If you select All, One, or To End in the Option field, this field is inactive.

Options

Update Options

In this group box, you can select whether or not the ETC files are updated for amounts, PLC hours, or GLC hours. If you update ETC files with PLC or GLC hours, you must enter budgets for hours by project/PLC or project/GLC. You can also update project revenue with ETC or LREAC amounts, if you have set up revenue formulas that calculate based on ETC or EAC.

Update ETC Amounts

Select this check box to update the estimate to complete fields on the Manage Estimate to Complete Amounts screen.

Update Revenue with LREAC or ETC

Select this check box to update project revenue with ETC or LREAC accounts. The projects to be updated must have revenue formulas based on Estimate To Complete or Estimate At Completion.

Update ETC Hours

Select this check box to update ETC hours data on the Manage Estimate to Complete PLC Hours or the Manage Estimate to Complete GLC Hours screen. If you select this check box, you must select one of the following options to indicate the hours to be updated.

Update PLC

Select this option to update estimate-to-complete hours for PLCs.

Update GLC

Select this option to update estimate-to-complete hours for GLCs.

Revision Option

You can update project ETCs with a project-wide percentage complete, or with budget amounts minus incurred costs.

Update LREAC with Percent Complete

Select this option to update your project ETCs with a percent complete.

% Complete

If you select the Update LREAC with Percent Complete option as your Revision Option, enter the percentage complete in this field.

Update ETC with Budget Minus Incurred

Select this option to update your project ETCs using the budgeted amounts less the incurred amounts. If you choose this option, first enter and/or review your project budgets. You must also run the Update Incurred Cost for ETC screen to update your incurred cost information with current amounts. Otherwise, your ETC calculations are not accurate.

Date

Use this group box to enter the revision date. This date can assist you when you are assessing the age of the data on the Manage Estimate to Complete Amounts screen.

Revision Date

The system date defaults in; however, you can modify this. This date is stored as the last LREAC update date.