Does Form Base Project budgeting support Budget Forecasting?

Question

Hello Expert,
Can you please help me in understanding that does form base budgets in project costing support budget forecasting? if no then is that it can be achive only through Project Management?
Your help will be appreciated.
Thanks
Uday

Answer 1

Hi
If you use the Forms for budgeting you can setup various budget types, like approved cost budget, proposal cost plan, funded revenue budget, forecast cost, etc...
For each one of those types you have the same functionality, and budget entry is just keying in the quantities and amounts on the budget form. You could automate the calculation of burdened cost based on the entry of raw cost amount, or that based on quantity. Such automation is done using the budget client extension, and that extension is called immediately as you key in the line value.
With Oracle Project Management (PJT) a new entity was introduced called Financial Plans. A financial plan type is an enhancement of a budget type. The entry of financial plan is done on HTML pages. You could set up financial plans for Firm annual budget, for forecast, for funded revenue etc. With PJT Oracle also delivered a concurrent program called Forecast. That program can generate the plan amounts and insert them on the financial plan defined as parameter. Such calculation functionality is not supported on the Form based budgets.
Dina