ESTIMATE AT COMPLETION
(Interim)
by
Wendy Kaszycki, PE
September 30, 2004
ESTIMATE AT COMPLETION ANALYSIS
Learning Objectives
• Understand the policy and goals of this module
• Have the ability to read and understand the process
flow. Be able to see where your responsibility fits in
with the process flow
• Understand how actual costs and encumbrances
download from the IFS to the Excel Spreadsheet
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ESTIMATE AT COMPLETION ANALYSIS
Learning Objectives (Cont’d)
• Be able to perform Estimate at Completion analysis in
the Excel spreadsheet
• Be able to analyze costs to date, forecast estimate to
complete and determine if project is trending over or
under budget.
• Know how to make trend adjustments to provide the
Estimate at Completion in Expedition
• Know to never input or edit information on the Cost
Worksheet
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ESTIMATE AT COMPLETION ANALYSIS
Policies
• Estimate at completion analysis is to be performed on
all jobs by the OAR by using the forecasts calculated
in the Interim Excel Spreadsheet and making
adjustments based on analysis of the project. As a
minimum, the estimate at completion is required
monthly as input to the Regional Director’s Project
Cost Analysis spreadsheet.
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ESTIMATE AT COMPLETION ANALYSIS
Goals
1. Provide an interim system that aligns
encumbrances and actual costs to allow
Estimate at Completions to be performed.
2. Provide consistent analysis of the projects
throughout the District.
3. Identify if a project is projecting to be over
or under budget.
4. Allow early identification of negative trends
on a project so that corrective measures
can be taken and impacts to a project can
be minimized.
5. Provide a system that can be used for
projections and budget mods for SEPs.
6. Meet reporting requirements to Board.
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EXCEL WORKSHEET & ESTIMATE AT
COMPLETION ANALYSIS
Overview
•
Estimate at Completion Process Flow
•
Estimate at Completion Excel Spreadsheet
•
Estimate at Completion Adjustments (Expedition
Trend)
•
Other Reports and Analysis
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ESTIMATE AT COMPLETION ANALYSIS
Process Flow Diagram
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W
I I F M
8
W
I I F M
What’s
In
It
For
Me
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EXCEL WORKSHEET – EAC’s
Actual Costs, Encumbrances & Budget
Excel Worksheet
•
WIIFM
–
Streamlined procedure eliminates Cost Analyst input of Hackl
reports in numerous sheets in Excel workbooks
–
Single point of data entry
–
Maintains existing IFS control points
–
No modification to existing accounting processes
+ A/P, Payroll, Journal Entries
Assures data is consistent in both systems
+ Labor costs
+ Vendor invoices
+ Pay Aps
+ Open Commitments/Encumbrances
+ Journal Entries
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ESTIMATE AT COMPLETION & PROJECT
COST ANALYSIS
Estimate at Completion
Project Cost Analysis
•
WIIFM
–
–
–
–
Consistent method of analysis across LAUSD
Maintains existing IFS control points
Real time access to data
Automatic mapping/download into Project Cost
Analysis Spreadsheet
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EXCEL WORKSHEET
•
•
•
•
•
•
•
•
Hackl report imported at beginning of month
Spreadsheet provided to Cost Analysts
Cost Analysts distribute spreadsheet to OAR’s
OAR’s perform Estimate at Completion
Review miscodes with Cost Analysts
Input Estimate TO Complete Trend in Expedition
Regions review Estimate at Completions and Project
Cost Analysis spreadsheet
Regional Directors submit/review Project Cost Analysis
spreadsheet with Director of Construction
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EXCEL WORKSHEET - Refresh
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EXCEL WORKSHEET - EAC
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EXCEL WORKSHEET - Trend
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EXPEDITION TREND
• Use Excel Spreadsheet, Trend tab for
input to Expedition
• Input Trend, Commitment Adjustment
• EAC values will be calculated in
Expeditions Column N (Projected)
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EXCEL WORKSHEET
Handling Miscodes
• 9 Miscode Categories Created for each Cost Phase
(Bucket)
• Miscodes handled by working with Cost Analyst:
- Charges to wrong project (Journal Entry out)
- Charges to wrong cost code (Journal Entry or
move budget)
- Charges to IFS cost code that does not exist in
Expedition
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EXCEL WORKSHEET
Getting Started
• Cost Analysts to Reject or Delete all Trends,
Commitment, “Estimated” and “Adjustment”
• Cost Analysts provide Excel spreadsheets to OAR’s
• OAR’s perform EAC’s
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ESTIMATE AT COMPLETION
Future
• Commitment and Actual Cost integrations will
download information to Expedition
• Full EAC to be performed in Expedition
• Drill down capability to view transaction (PO,
contract, Invoice, etc.)
• Funding (to date and forecasted strategy) to
be downloaded
• Soft Costs from other databases and forecast
systems to download Estimate to Complete
- CM from Staffing Plan
- M & O from Maximo?
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Questions?
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