Create/Connect Project Snapshot

Explanation

A snapshot is a static view of the project status relative to a specific point in time known as the Cut-Off Date. The snapshot will contain all project activities and any connected objects with their reported cost/revenue and progress.

Depending on the requirement of details or the existing facts the snapshot can be created in three different ways:

• Snapshot with details – Creating a snapshot for a specific cut-off date including the detail transactions. Drilldown will be done against the snapshot data for each cut-off date.
• Snapshot without details – Creating a snapshot for a specific cut-off date on a summary level for matching purposes. Drilldown will be done against live data on the project.
• Live view – Creating a snapshot without considering any cut-off date, values are directly captured from the project connection details at the time of creation. Drilldown will be done against the live data on the project.

This activity is used to create a snapshot and connect it directly to the selected budget/forecast version and it also enables the connection of an already created snapshot to the selected budget/forecast version. Any snapshot created with the same cut-off date can be connected to the budget/forecast version.

When the snapshot is connected to the forecast, the matching process tries to find an exact match (the combination of relevant activity/cost element/Code Part information) between the snapshot lines and the forecast lines in order to add the snapshot values to the forecasted values. If no match is found a line with a warning triangle in front of it is added to the forecast, displaying the values that are not forecasted. If you wish to enter an ETC value on these lines a new forecast line with appropriate sub project/activity/cost element/code part values (depending on the required level of matching) from the snapshot line needs to be entered. When this is done the application will match the snapshot line with the new forecasted line and the ETC value can be edited.

When a snapshot has been connected to a forecast it is thereafter possible to disconnect it or replace it with a new snapshot.

Prerequisites

• The budget/forecast version must be in status Preliminary and cannot be an active budget version.
• If you have performed a snapshot history data cleanup with a history cut off date, it is not possible to create a new snapshot with a cut off date prior to that history cut off date.

System Effects

• A snapshot will be created and connected to the selected forecast version. Snapshot version and date will be updated on the forecast version.
• If a snapshot is already connected to the selected forecast version the old snapshot information will be removed and the new snapshot connected instead.
• The estimated, planned, committed, used and actual cost on the Cost tab of the selected budget/forecast version will be updated with reference to the new snapshot.
• The estimated, planned, preliminary, posted, and actual revenue on the Revenue tab of the selected budget/forecast version will be updated with reference to the new snapshot.

Window

Project
Project Forecast Info
Project Forecasts
New Project Forecast
Project Snapshot Details

Related Window Descriptions

Project Forecasts
Project Forecast Info
Project
New Project Forecast
Project Snapshot Details

Procedure

Use the following procedure to create a snapshot on a new forecast version in the making:

1. Open the New Project Forecast dialog box.
2. Proceed with creating a new forecast using this dialog box as described in the Create Project Forecast Versions or Copy from Forecast activities.
3. Select the Create Snapshot check box, if it is required to create a snapshot of the forecast version. Depending on the need for monitoring the data it can be created as a snapshot without or without details or linked to the project connected objects. Click the relevant Snapshot With Details, Snapshot Without Details or the Live View option according to your requirement.
4. In the Snapshot Matching area, select the default option for the calculation rule on the new forecast when connecting and matching snapshots. It can either be EAC Recalculated or ETC Recalculated option.
5. In the ETC Based On Previous Forecast area, select one of the two options, based on your requirement:

 
• Set ETC Based on Previous EAC: The EAC of the previous version is copied as the EAC of the new forecast version. The ETC will then be calculated to be the difference between the EAC and the cost/revenue until the snapshot date and time.
• Set ETC Based on Previous ETC: The ETC of the previous version is copied as the ETC of the new forecast version. The EAC will then be calculated to be the sum of the EAC and the cost/revenue until the snapshot date and time.
6. Click OK.

Use the following procedure to create a snapshot on an existing forecast version:

1. Open either the Project Forecasts or Project Forecast Info window and query for the project forecast version for which you want to create a snapshot. You can also open the Project window and right click and select the Project Forecasts menu option, which will open the the Project Forecasts window where you can query for the forecast version.
2. Right click on the window, point to Snapshot and then click Create. The Create Snapshot dialog box opens up displaying the accounting period, cut-off date as defined on the forecast version.
3. Select your requirement out of Snapshot With Details, Snapshot Without Details or the Live View options and click OK.

Use the following procedure to disconnect a snapshot from a selected forecast version:

1. Open either the Project Forecasts or Project Forecast Info window and query for the project forecast version for which you want to disconnect the snapshot. You can also open the Project window and right click and select the Project Forecasts menu option, which will open the the Project Forecasts window where you can query for the forecast version.
2. Right click on the window, click Snapshot and then click Disconnect. 
3. Click OK to confirm the need for the disconnection.

Use the following procedure to connect a snapshot to the selected forecast version:

1. Open either the Project Forecasts or Project Forecast Info window and query for the project forecast version for which you want to connect a snapshot. You can also open the Project window and right click and select the Project Forecasts menu option, which will open the the Project Forecasts window where you can query for the forecast version.
2. Right click on the window, click Snapshot and then click Connect. The Connect Snapshot dialog box opens up.
3. In the Number, Acc. Period or Date field, use the List button to select one of an existing set of snapshots previously created and connected on the selected forecast version.
4. Click OK.