Forecasting in Projects

Finance and Operations/AX User Forum
1

Hi all,

Can any1 plz clarify me on this:

  1. We do budgeting using forecasting in Projects. How do we maintain versions in forecasting? For example, I have forecasted 10 hrs for a category in a project. Now I want to enter a new version of forecasting and want to update 12 hrs for the same category. How this can be acheived. If this is done using Forecast models, how system knows which is the latest version.

  2. How can I compare the initial budget vs revised budget wrt actuals.

  3. Is there any budget control check exists in Projects module in AX? For ex: Forcasted for Item A for 20 Rs. If a PO is raised for the item for 25 rs…and as it has crossed the budget, system shud stop the PO from creating.

Appreciate your help on this!!!

Regards,

PaWan

2

Hi PaWan,

Here are some hints that might help you:

  • To maintain different versions for forecasting you have to setup different forecast models

  • The system knows what forecast is the latest one depending on the setup in the project module parameters cost control tab

  • To compare initial budget vs. revised budget vs. actuals, you need to setup 3 different forecast models. The initial budget should not be ‘touched’. So, setup the revised budget as the default budget model in the project parameters form

  • Budget control check: if you use the remaining budget approach you can define that AX automatically reduces the budget by the hours, items, expenses, etc. consumed. You can setup this feature in the forecast model window in the project tab. Just select the automatic cost reduction parameter(s) and the ‘check cost against remaining budget’ parameters.

Hope those hints help.

Cheers,

Ludwig

3

Hi Ludwig,

Sorry for my late reply…I was put back again into the project and hence this late in reply.

Your other inputs have worked well…I have some query regarding budget control check…

I have set the parameters in the forecast model. System is not allowing to create purchase order if the budget exceeds in the forecast transactions → Items. But this control check is wrt Qty but not with respect to the Amount. For ex: If A is budgeted for 2 Qty and 500 Rs and if a PO is raised for A with Qty 3 and Amount as 300Rs, system is throwing error as Qty is 2 in the forecasted item transactions. But still the amount is less than the forecasted budget for this item.

Is this the bug? is there any workaround for this? If the code is to be customized what should be the logic for this budget control check. Bcoz every logic shud be considered here. For ex: if PO is raised in USD and forecast budget is in INR then first the conversion should get happen and then the system shud check the budget etc.

Please help me on this.

Thansk, Pawan