1. Project Budget Update Forecast Cost 

Forecast monthly costs are initially automatically populated when a new cost item is created, during the life-cycle of the project based on review of historical actual spending and future spending, forecast costs may need to be updated. 

 

For both Planning and Execution projects, forecast costs can be updated across all periods (past, current, and future).

 

 

  1. To UPDATE Budget Cost Items, Budget Module Update access must be granted.
  2. To approve updates, Budget Module Project Approver Responsibilities must be granted.
  3. While a Budget Cost Item is pending review, no other changes can be made to the same Budget ID until the Approver has approved or rejected.

 

  • Access the relevant project.  Click for instructions on how to locate the project dashboard based on project status (e.g. Planning Project or Execution Project).
  • Select ‘Budget’ from the sidebar menu.
  • Navigate to ‘Detailed Cost’ table.
  • Click on the ‘Budget Item ID’ or "WBS" of the cost to be updated to navigate to the Budget – Cost Details page. 

 

  • Click the ‘Update’ button within the ‘Budget – Cost Details’ page.



  • Once navigated to the Update Cost page, update the monthly Forecast values within the ‘Forecast Cost’ field. for any or all of the periods you want.
  • Forecast values can be updated across all periods (past, current, future)
  • Click on the ‘Add Cost Period’ button to extend the monthly periods. Note: Must be within Project Forecast finish date.
  • Click ‘Update Cost’ to save the details.


2. Project Budget Update Forecast Cost  via CSV Import 

For both Planning and Execution projects, forecast costs can be updated across all periods (past, current, and future).

 

Ensure the CSV file for updating existing project forecast cost item has been created with all mandatory fields populated. Actual cost field can be updated in the same file if required (see example below) click here to review full template table.

 

  • Recommendation for Existing Data Handling Type is ‘Update Existing Items’ if updating existing forecast and/or actual values.

 

  • To import CSV, click here for Project Budget CSV Import Process instructions.