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20. Comparing Budgets

Once you have create a snapshot of your budget, you will be able to compare budget versions. This is useful to analyse the impact to your budget as changes are made. To compare your budget versions, simply select the relevant snapshots available in your Version, and Compare To drop down boxes. This will then display variance at the project level, and at the code structure level.



Cost Budget Summary


UniPhi will display your cost budget summary within the Cost module.



The grouping of information is such that your Budget will show:


  • Original version, the current budget and any transfers which have occurred.

  • Commitments, which groups your original (i.e. signed off) cost contracts, and any approved variations to total your commitments.

  • Untendered column, displays any amounts which are anticipated, but not yet committed. The columns displayed in the untendered column include pending contracts, possible and pending variations, and untendered amounts.

By default UniPhi won’t know what the amount of untendered costs is, until you enter this information.


Untendered Amounts and Forecast to Complete


PIMS will report and display the untendered amount in one of two ways – automatic calculation, or manual calculation. The easiest way for most people is to use the Forecast to Complete auto calculate feature.


Go to your cost module, project budget, and press the forecast to complete.



You’ll notice that the Untendered column is now editable.



You may choose to enter these values manually, or select the Auto button. This feature takes the budget amount and subtracts any committed signed off cost contracts



The untendered amounts will then appear in the cost module, and in the cost reports.


Estimating 


New quotes and proposals can be estimated in the contracts system. Each deliverable estimated is mapped to the Revenue codes used in the previous section thereby updating the forecast Revenue for the project. This can then be used to re-baseline the phased budget by clicking on the Re- Baseline button.

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