With well-established budgets setting the baseline, forecasting is the life blood of project controls: predicting the outcome based on current trends and being able to take corrective action.
EcoSys Projects contains powerful and robust budgeting and forecasting capabilities. Able to tackle multifaceted budgeting needs, Projects then leverages budgets, progress, and actuals captured within the platform or integrated in from vital external systems to produce advanced, predictive forecasts.
Projects delivers a combination of best practice approaches for budgeting and forecasting, while providing the flexibility to follow the processes that are already established and working within your organization.
Budgeting for Projects
Project budgeting is a central component of project cost management. EcoSys Projects was designed to provide a robust, project budgeting platform with an easy-to-use interface to support full life cycle project controls. Project costs can be planned from the bottom-up from estimates. Budget baselines can be built by detailed line items, or at a higher level as appropriate, and modified by an enforceable change management process. The software has the flexibility to time-phase budgets at any time interval, link the budget to Purchase Orders, match the budget against funding, and tie budgets to forecasts.
Forecasting & What-If Scenarios
EcoSys Projects provides the ability to perform the predictive and accurate best practice forecasting essential for monitoring progress against targets. The software leverages information including actual costs, schedule, and progress, to reflect current trends and show where a project or program is heading. Forecast variances and analyze trends. Unlimited auto-forecasting rules help provide more accurate At Completion forecasts and Estimates to Complete. Customers can determine strategic and organizational impacts based on aggregated forecasts, and drill down into detail as needed.
Projects users can perform unlimited “what-if” scenarios and capture each separate scenario for comparison purposes. Scenarios illustrate the true impact of proposed changes to assist in transparent decision making.
With Projects, you gain a powerful financial forecasting software solution optimized for handling the complexity of today’s projects. Organizations use integrated data with their own proven forecasting approaches achieve timely visibility into where projects are heading, and leverage that information to improve project performance.
- Fiscal year based and project life cycle budgeting and reporting
- Define your rules for each stage of the budget development process
- Line-item detailed budgeting by WBS, CBS, OBS, RBS, and any other cost code or attribute
- Ability to time-phase or manage in lump sums
- Maintain unlimited budget and forecast versions for comparison, trending, and auditing
- Real-time version comparisons/variances
- Budget at summarized levels and lowest-level line items, based on budgeting stage
- Associate budgets and forecasts with any other ABS (alternate breakdown structures)
- Ability to integrate with Schedule Data (e.g. Oracle Primavera P6 / Microsoft Project) for resource-loaded budgets and forecasts
- Forecast resources and disciplines in addition to costs
- Extensive ETC/EAC what-if forecasting methods, including use of PF/CPI, SPI, TCPI, and any manual overrides
- Integrated Rate tables for pricing labor, materials, and other costs
- Integrated Foreign Exchange Rate tables
- Tailorable Excel-like views for managing budget/forecast data
- Full Import/Export of budget data with Excel