Rolling Wave – Forecast#
General#
An iterative method, rolling wave planning helps you minimize the uncertainty associated with scheduling complex projects by providing you with quick and regular updates on their status and progress and multiple ways to respond to changing demands.
With the Forecast feature, you can compare past and expected (and current) project performance based on multiple versions of a WBS, giving you a good idea of where things are headed, as well as the opportunity to readjust the structure to get a project back on track.
Note
Although they work well in concert, you can use the Forecast functions without also installing the Distribution feature. You, however, need to ensure you have a valid license before you can work with either functionality.
Setup#
Projects Setup#
Forecast#
The fields that are grayed out on this FastTab show whether you’ve set up the specified forecast options (namely, comparisons and WBS version creation).
For changing them, click a field value to get to the corresponding setup page.
| Field | Description |
|---|---|
| Forecast Active | Turn on this toggle to activate the Forecast feature. |
| Can Edit Source Budgets | Turn on this toggle if users should be able to change the values of a source version in a forecast view, and therefore, the original version. |
| Style – First Version | Specify the style that will be used for the first WBS version selected in the comparison matrix. |
| Style – Second Version | Specify the style that will be used for the second WBS version selected in the comparison matrix. |
| Style – Third Version | Specify the style that will be used for the third WBS version selected in the comparison matrix. |
| Style – Change Orders | Specify the style that will be used to visually set apart the original lines of a source budget from the change orders, that is, the WBS lines, copied to it from other versions. |
| Display Comparisons | Specify how you want values to appear in the comparison view. Side by Side means the same fields—such as the output quantities entered for all three versions—are shown next to each other. If you choose By Category, on the other hand, you see the quantity fields first (starting with version 1), followed by the unit costs, and then the other matrix fields. |
| Create WBS Version – Type | Specify the version that will be shown by default when you run the Create WBS Version action. In most cases, we recommend you select New Version, as it is the only option that can be used immediately. |
| Create WBS Version – Page | Specify the page that will be opened and set to the version entered in the prior field when using the Create WBS Version action. |
The remaining fields on this FastTab specify at what point cost overruns or underruns will be highlighted in forecast views and how they’ll be formatted.
Example
When a budget is exceeded by 5%, the costs associated with it will be shown in light red (style property Attention). They’ll be dark red (style property Unfavorable) if the overrun is 10% or more.
Note
You need to fill in all style fields to be able to run the forecast views from a project card.
Rolling wave – comparison field setup#
On this page, you specify the fields you want the Forecast Comparison Matrix to show.
When using the setup for the first time, the default configuration is entered by the system, and you only need to manually fill in any field that is left blank.
You can also assign fields to a group if By Category is selected in the Display Comparisons field in Projects Setup so that they’re shown in the matrix sorted by certain criteria.
The values in the Sequence No. fields indicate the order in which fields will appear on the page. With a total of 10 ranks available, a new field can easily be inserted between the existing fields. The lower the number, the further to the left the field will be.
The Cross-Version checkbox is selected for fields that are specified once and are then shown on every version that you’ve set up in the system (an example being the Description field).
Create WBS - Version options#
Here, you specify the request page fields that will be visible when you choose Create WBS Version on the ribbon of a project card.
We recommend that you keep this page slimmed down.
Ideally, no fields that need to be filled in will appear on the page, not even the field used to select a WBS version (source version) for copying. With this field not visible, values are copied from the version that is currently active.
User Setup#
| Field | Description |
|---|---|
| Can Set Source Budgets | Indicates if the user can specify a WBS version as the source version by turning on the toggle with the same name on the WBS header. Source versions typically cannot be edited. |
| Can Edit Source Budgets | If selected, allows the user to modify the WBS version that is marked as the source version. |
Project creation#
After you’ve created a project with or without the (Create) New Project wizard and (if needed) distributed the budget for it, two new WBS versions will be set up by the system: a source version, which typically cannot be changed, and an active version that you can post to.
Forecast views#
On the project card, you can then choose either one of the two forecast views that resemble those available for standard work breakdown structures (where the ribbon actions are WBS and WBS Incl. Budget View) or a budget view that is filtered to all active WBS lines (open work packages).
Besides fields you’re familiar with, the views include some that are specific to forecasts, as described in the following table.
| Field | Description |
|---|---|
| Quantity | Shows the quantity that has been budgeted for the current WBS version (corresponds to the Quantity field in regular WBS views). |
| Remaining Quantity | Shows the budget remaining for the current WBS version, minus consumption and commitments. |
| Quantity (Expected) | Shows the quantity budgeted in the source version. |
| Time Commitment (Qty.) | Shows the number of time postings entered but not yet copied to project ledger entries with the help of the project journal (see the corresponding field in regular WBS views). |
| Usage Qty. (Base) | Shows the total usage quantity stored on project ledger entries (as the corresponding field in regular WBS views does). |
| Qty. (Actual) and Committed | Shows the result of adding up the Time Commitment (Qty.) and Consumption (Base) field values. |
The same fields exist for unit costs. Additionally, you can see the invoice quantities and total prices entered for the project.
Create WBS Version#
Sets up a new WBS version with the help of the Copy WBS function. Based on your setup, the action might be run with a very slimmed-down selection page.
You don’t need to enter a source WBS on the request page. Not choosing one means that the active WBS version will be regarded as the source version for copying purposes.
Note
The created version is automatically set to Active.
Open Source Budget#
Opens the WBS version marked as the source version.
WBS Forecast Comparison#
Compares up to three different WBS versions.
On the header of the request page, you can specify the versions you want the system to display. In the Cost Type and Revenue Type fields, you can select if you want to compare quantities or amounts, or both, in the matrix.
To see the values of all WBS versions, go to the Forecast Comparison Matrix FastTab. For a neater overview, the values of each structure will be shown in another style, as specified in setup. Comparisons are made at WBS line level.
Note
The validity period that was set for each version determines what consumption and commitment values will be shown in the matrix.
Example
Version 2 was valid until 06/15/25, at which point version 3 was created and released (by running the Create WBS Version function).
Up until this date, a total of 120 hours were posted. From the 15th on until now, another 30 hours were specified as committed. In version 2, consumption was therefore 120 hours. Version 3, by contrast, includes 150 hours, which you can see in the Qty. (Actual) and Committed field.
Change orders#
Change orders are a common occurrence in project management industries, and their impact must often also be accounted for in the budget.
Typically, these orders are created in the active WBS version, from where the budget modifications can be copied to the source version, if needed. Whether it makes sense to copy a certain order to the source budget depends on what changes were requested.
Whereas lines added to a work breakdown structure are treated as a change order by the system, budget lines that are attached to existing WBS lines are regarded as a simple planning adjustment. This means changes to contracts requested by customers must always be set up in the form of new WBS lines.
Copy Order Changes#
This WBS line checkbox is selected automatically if a new line is created in a WBS version that isn’t specified as the source version.
With the Copy New Line to Source Budget function on the Lines FastTab, you can still copy the line (and its line activities) to the source budget, however.
To copy an entire group of (selected) lines, choose Copy New Lines-Multiple.
Open Source Budget#
You can run this function to open the source budget for a project and identify WBS lines that were transferred there from another WBS version by checking if the fields described in the following table are filled in.
| Field | Description |
|---|---|
| Change Order On | Indicates when the change order was created. |
| WBS Change Order – Description | Shows the description of the version that the change order was copied from. |
| WBS Change Order – Budget Name | Specifies the name of the project budget that the order was copied from. |
| WBS Change Order – Version | Specifies the number of the WBS version the order was copied from. |
Change order lines are shown in a style different than those belonging to the source budget (=source WBS lines). The style that will be used is specified in Projects Setup in the Style – Change Orders field field.
New WBS version as source version#
Instead of copying change orders to the source version, you can also turn the version they’re created on into the new source version.
Which option you choose depends on your overall approach to budgeting and the status of the affected versions.
Versions in cost control#
When creating financial reports for projects, you can also set up flexible cost control overviews that will take account of project budgets.
On the Edit Column Definition page, in the WBS Version field, you can choose between the active, previous, or source WBS version belonging to a project to specify what version should be used to compare financial data retrieved from rolling wave planning.
For example, you can compare the budget plan that is specified for the source and the plan set up for the active WBS version of the project.
This layout setting only applies when budget values will be shown in column definitions, that is, if the Entry Type field is set to Project Account Entries.