Project Budgeting & Forecasting

Organizations have different approaches to budgeting. Even within a single organization, the workflows to create, review, approve and change budgets can be quite different between divisions, functional areas, or projects. As a result, the budgeting software that an organization chooses must adapt to these processes, rather than force the organization to change to the software.

With a budget established, forecasting is the lifeblood of project controls: predicting the outcome based on current trends and being able to take corrective action.

EcoSys EPC is a powerful and robust budgeting and forecasting software platform, able to address multifaceted budgeting needs and then leveraging budgets, progress, and actuals captured in EcoSys EPC or integrated in from various vital systems to produce advanced, predictive forecasts.

EcoSys EPC 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 EPC was designed to provide a robust, project budgeting platform with an easy-to-use interface to support full lifecycle 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.  EPC 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

EPC provides the ability to perform the predictive and accurate best practice forecasting essential for monitoring progress against targets.   EPC 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.

EPC 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 EcoSys EPC, 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.

Solution Highlights

  • Fiscal year based and project lifecycle 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