Help Getting Budgeted Cost by Year - multi year projects

[TheresaGi]

Hi there, does anyone know of a way to get budgeted cost by year for a multi-year project? -------- Theresa Gibson, PMP, CSM Project Manager Transforming Data, Delivering Information™ 7 Walnut Grove Drive – Horsham, PA 19044 Office: 215-682-8285 Cell: 571-259-0015 Fax: 215-734-2006 "http://www.reedrech.com/"> www.reedtech.com – tgibson@reedtech.com

[Dr_DougWi]

There are several approaches, but all rely breaking the projects out into their planned spends. For example, an effort that overlaps two years will have one project for the first year and a project for a second year. Here are some scenarios from my experience… Client wanted to plan fiscal spend in three-year segments, broken out quarterly Client wanted to plan each fiscal year based on a planned CAPEX spend allowance; no CAPEX amount could cross a year and needed to be shut down when all money spent or time expired. Client wanted to align projects to executive goals and the annual budgets; project shut down when goal met of money spent, but sometimes a cross over forced the goals to cross years. Client wanted to preset all annual spend for all budget amounts prior to the fiscal year starting; all CAPEX and OPEX amounts were to be accounted for in all annually aligned projects. Doug Williams

[StephenFl1]

Hi Theresa, I just had to solve this same issue the other day. I chose to add new custom expense categories and then break them by year. I then used the planned amount as the "budget". Example: We're on a fiscal calendar, so I created expense categories called "FY18 Expense, FY19 Expense, FY20 Expense..." I can then break the planned and actual expense over multiple years and use an expense report (in matrix view) to track. I hope this helps. Steve Stephen Flynn Disney Vacation Club

[EricLu2]

Wow. I spent a lot of time trying to figure out how to do it. I tried reports, one for each year. In the end, I dump the assignments for a project out to Excel and I have a spiffy set of formula that calculate the forecasted cost for a project by time period, especially crossing fiscal year boundaries. I'll be fascinated to see how people accomplish this within WorkFront without going out to Excel. Thanks! Eric

[TheresaGi]

Thanks for your response & suggestions everyone. I think I may have been vague in my question. The problem that I am having is I have a project that happens to be a multi-year project. It started back in 2016 and it will continue through 2018. I need to be able to report on both the "Budgeted" resource hours AND cost for 2016, 2017, & 2018. I also need to report the "Actual" resource hours AND cost spent during 2016, 2017 & 2018. I am able to get the actual hours & cost by producing a matrix "hours type" report. I do not see a way in workfront to pull "Budgeted hours" and "Budgeted cost" by year. I can only get a total budgeted cost, not a breakout by year. I believe this data should be available in workfront somewhere because in the Capacity Planner view you can see a breakdown of budgeted cost by month for multiple years. Theresa Gibson Reed Technology and Information Services Inc.

[TheresaGi]

I agree Eric. I hope we get some ideas. There has to be more people with multi year projects out there. I'm sure others need to report project budgets by year. Any other other suggestions from the community? Do any workfront reps have any ideas? Original question - The problem that I am having is I have a project that happens to be a multi-year project. It started back in 2016 and it will continue through 2018. I need to be able to report on both the "Budgeted" resource hours AND cost for 2016, 2017, & 2018. I also need to report the "Actual" resource hours AND cost spent during 2016, 2017 & 2018. I am able to get the actual hours & cost by producing a matrix "hours type" report. I do not see a way in workfront to pull "Budgeted hours" and "Budgeted cost" by year. I can only get a total budgeted cost, not a breakout by year. I believe this data should be available in workfront somewhere because in the Capacity Planner view you can see a breakdown of budgeted cost by month for multiple years. Theresa Gibson Reed Technology and Information Services Inc.

[TheresaGi]

More details - The problem that I am having is I have a project that happens to be a multi-year project. It started back in 2016 and it will continue through 2018. I need to be able to report on both the "Budgeted" resource hours AND cost for 2016, 2017, & 2018. I also need to report the "Actual" resource hours AND cost spent during 2016, 2017 & 2018. I am able to get the actual hours & cost by producing a matrix "hours type" report. I do not see a way in workfront to pull "Budgeted hours" and "Budgeted cost" by year. I can only get a total budgeted cost, not a breakout by year. I believe this data should be available in workfront somewhere because in the Capacity Planner view you can see a breakdown of budgeted cost by month for multiple years. Theresa Gibson Reed Technology and Information Services Inc.

[DavidTa1]

Theresa, I was wondering if you have already tried a Project (Financial Data) report? This report allows you to use "Allocation Date" to report on "Planned Labor Cost", "Planned Labor Revenue", Planned Labor Cost Hours", and Actuals during specific months or years. Here is what I would start with and then manipulate until I got the look I liked: 1. Create a new Project (Financial Data) report 2. Columns: "Planned Labor Cost", "Planned Expense Cost", and "Total Planned Cost" summarized by Sum 3. Groupings: Matrix report with "Project Name" on the Left and "Allocation Date" on the Right with the dates grouped by Year 4. Filters: Choose the Portfolios you want or don't want in the report and project status being Current This will give you all the budgeted costs by year, as long as your project was set-up correctly with planned hours and costs associated with the job role or person assigned to each task and durations/dates set correctly for when the work happens. The key to this report, besides the project plan being set-up correctly is that it is one of only 2 or 3 reports that uses "Allocation Date" which is very powerful for getting the data you are looking for at the project level only. Sadly enough,"Allocation Date" does not work at the task level. Please let me know if this works/helps! David Taylor moventus

[TheresaGi]

Thanks so much David for sending your response. This report is perfect! The only thing is I need the "Budgeted cost", not the "Planned cost". Do you know if there is a way to get this added to the Project Financial Data collection? Theresa Theresa Gibson Reed Technology and Information Services Inc.

[DavidTa1]

Theresa, Some people use the planned costs as their budgeted costs, instead of using the Resource Estimates in the Business Case. It sounds like you are using the Resource Estimates to identify your budgeted costs...is this correct? If so, you can still bring in the Budgeted Costs or Budgeted Labor Costs from the project and utilize the Allocation date from that report. Also, the Resource Estimate report type allows you to use Allocation Date and is focused on Budgeted and Scheduled hours/Costs used in the Business Case. This functionality is changing though, so just be prepared. Let me know if I am understanding better now or still missing something. Thanks! David Taylor - moventus Moventus

[TheresaGi]

Hi David yes you are correct. We are using the budgeted cost from the resource estimates in the business case. I did use this value from the project table and added it to the report. I was having trouble getting the report to sum the values correctly though. I'll keep looking into this though. Thanks for your help! Theresa Theresa Gibson Reed Technology and Information Services Inc.