Contract Budgets - EcoSys - 3.02 - Help - Hexagon PPM

EcoSys Contracts Help (3.02)

Language
English
Product
EcoSys
Search by Category
Help
EcoSys Standard Version
3.02

Contract Budget

An essential component of Contract cost control is the establishment of a Contract Budget which will eventually serve as an approved plan to measure actual against forecasted performance. A best practice approach ensures visibility into the Contract Budget at all times, and a carefully managed process to control budget changes.

The Contract Budget module is used to establish, view, and approve Contract budgets within EcoSys. The data that can be established for any Contract Line includes date, quantity, hours, cost, and other specific details of the budget. Costs, quantities and hours can be spread over a range of periods. 

Once the budget details are present and time-phased, the Contract Budget may be submitted for approval. Once approved, the Original Contract Budget, Current Contract Budget, and Current Contract Forecast are established. All subsequent changes to the Current Budget and Current Forecast will be performed using the Changes module.

In EcoSys, the Original Contract Budget is established in the Budgets module. It is not impacted by budget changes approved via the change management process. The Current Contract Budget is equal to the Original Contract Budget plus any approved changes.

Project % Contract Budget Status

The Project & Contract Budget Dashboard displays a budget overview for a Project’s budget and Contract budget. The top panel displays Contract data by Project. Drilldown functionality may be used to provide additional detail in the lower panel. The out-of-the-box functionality described below is only available if the EcoSys Projects is also implemented.

Contract Budget Status

The Contract Budget Status Dashboard provides a Contract-specific budget overview by Project. The top panel displays values for Budget, Changes, Forecast, VOWD and Actuals summarized by Contract Line Item. The bottom panel displays a time-phased graphical representation of the same data.