Project configuration steps - Estimation

Estimations are a key tool in order to manage a project. An estimation may contain the figures concerning budget, balance and estimation at completion of working days and financials (to manage financials, the FM - Financial Management module is required).

Estimations can be managed from the Estimation section of the project. Every estimation refers to a spefic Estimation Date which influences the data shown. Actually, data are those calculated at the Estimation Date (e.g. only the timesheets occurring before the date are considered). The key input data managed in an estimation are budget and estimation to complete figures. All other figures are calculated based on them and on balance data which, on turn, derive from timesheets or cost occurrences.

Project estimation screen.

Basic settings

As a first step, it is recommended to check and update the basic settings of the estimations. This can be done with the QUICK ACTIONS command, choosing the Settings selection from the choices available.

Period Estimation Mode

This setting enables the structure of the estimation referring to time. The possible choices are; "Per Project", "Per Year" and "Per Month". "Per Project" means that the estimation data are referring to all the project duration. "Per Year" means that the estimation will be structured in different sections where to plan (e.g. budget) per each year (the numbers of years available will depend on project dates (in particular Internal Operational Start Date and Internal Operational End Date in General section). "Per month means that the estimation will be structured in different sections where to plan for each months. Again, the number of months will depend on project dates.

Detailed Estimation Mode

This setting enable to choose at what level are estimations made. "Per Resource" means that planning data (e.g. budget) are entered with the maximum detail level of the resource. "Per Activity and Resource" means that planning data will be entered at a higher detail level, per activity (according to the work breakdown structure of project activities) and per resource.

Available Sections

This setting allows to define which sections will be present in the estimation. Sections can be included by setting the corresponding checkbox. The available sections are: "Effort", "Expenses" and "Cost Items". "Effort" section allow to manage data concerning working days of resources. "Expenses" sections allow to manage data concerning expenses of resources (e.g. hotel, travel expenses). Finally, "Cost Items" expenses allow to manage specific cost occurrence for the project (e.g. the need to purchase goods or services).

Managed information

The rows of the estimation are automatically built based on data entered in other sections, in particular: Activities for project activities if Detailed Estimation Mode is set to "Per Activity and Resource", Resources for resources added to the project with On Budget property set to "True" and General/Project/Cost Occurrence Categories for cost occurrences.

Columns are predefined but their position can be changed bu drag&drop of their headers. Columns can also be added or hidden by means of the Displays menu to choose visible columns (last right icon of the bottom grid bar).

Available columns are described below.

Field	Description	Comment
Task Name	This is the name of the task (project activity).	Project activities are defined in the Activities section. They are displayed if Detailed Estimation Mode is set to "Per Activity and Resource".
Item Name	This is the name of a resource in "Project Effort Estimation" and "Project Expenses Estimation" sections or the name of a cost occurrence category in "Project Cost Occurrence Categories Estimation" section.
Start Date	The start date of the project activity.
End Date	The end date of the project activity.
Duration	The duration of the project activity.
Budget	The budgeted resource working days in "Project Effort Estimation", the budgeted resource expenses (in the project currency) in "Project Expenses Estimation" section and the budgeted cost occurrence amount (in the project currency) in "Project Cost Occurrence Categories Estimation" section.	Budget is an editable information. To enter a value, go to a cell where the Item Name is not empty and enter its value by double clicking with the mouse (the cell becomes red) and entering digits. For cost "Project Cost Occurrence Categories Estimation" rows it might be necessary to add a cost occurrence category before. This can be done by selecting the row where to add the cost occurrence category and adding a child row to it (with the Add new child row or move or copy selected row to actual cursor position command right in the bottom grid toolbar) an then editing the Item Name cell.
Balance	The balance resource working days in "Project Effort Estimation", the balance resource expenses (in the project currency) in "Project Expenses Estimation" sections and the balance cost occurrence amount (in the project currency) in "Project Cost Occurrence Categories Estimation" section.	This information is read only and deriving from the resources' timesheets (in "Project Effort Estimation" and "Project Expenses Estimation" sections) or the records of cost occurrences (in "Project Cost Occurence Categories Estimation" section).
Remaining	This information is calculated as Budget minus Balance.	This information is read only and itis automatically calculated at refresh or save time.
Estimation To complete	This contains what needed to complete the project: resource working days in "Project Effort Estimation" section, expenses (in the project currency) in "Project Expenses Estimation" section and the amount of cost occurrences (in the project currency) in "Project Cost Occurrence Categories Estimation" section.	Estimation to complete is an editable information. To enter a value, go to a cell where the Item Name is not empty and enter its value by double clicking with the mouse (the cell becomes red) and entering digits. For cost "Project Cost Occurrence Categories Estimation" rows it might be necessary to add a cost occurrence category before. This can be done by selecting the row where to add the cost occurrence category and adding a child row to it (with the Add new child row or move or copy selected row to actual cursor position command right in the bottom grid toolbar) an then editing the Item Name cell.
Estimation At Completion	This information is calculated as Balance plus Estimation to complete.	This information is read only and it is automatically calculated at refresh or save time.
Delta vs. Budget	The number of working days (all resources) spent.	This information is read only and deriving from the resources' timesheets. It depends on the date of reference which is set from the Estimation tab of the project.
Comment	The number of working days (all resources) spent.	This information is read only and deriving from the resources' timesheets. It depends on the date of reference which is set from the Estimation tab of the project.
Plan to date	The number of working days (all resources) spent.	This information is read only and deriving from the resources' timesheets. It depends on the date of reference which is set from the Estimation tab of the project.
% Complete	The percentage (Balance / EAC) of work completed of the project.	This information is read only. It is actually deriving from the information managed in the Estimation tab of the project.
Planned % Complete	The percentage of work theoretically planned to be completed of the project. This is the Plan to date work divided the Budget work multiplied 100.	This information is read only. It is actually deriving from the information managed in the Estimation tab of the project.
Earn	This is a key performance indicator representing the efficiency of the work. It is calculated as Budget work divided Estimation at Completion work. If minor than one the efficiency (work spent) is lower than expected. Higher on the contrary.	This information is read only. It is actually deriving from the information managed in the Estimation tab of the project.
Earned Value	The value, in working days, of the work done. It is calculated as Budget divided Estimation at Completion multiplied Balance.	This information is read only. It is actually deriving from the information managed in the Estimation tab of the project.
Confirmed	Resources assigned to the project activity.
Status	Project activities linked as predecessors of the current one.	In gantt view relationships are shown and managed graphically.