Modify Revenue and Cost Projections – A summary of the activity

Through this activity, you can revise the projected revenues/costs for a cost element for a specified period.

Projected revenues/costs is computed by the “Generate Forecast” activity by means of a forecast. Prior to this task, you must define the forecast through the “Maintain Forecasting Bases” activity. The forecast comprises the computing logic for arriving at the projected revenues/costs for a cost element.

The revised amount overrides the forecasted revenues/costs computed by the “Generate Forecast” activity.

The system assigns an amendment # to the forecast, when you modify the forecasted revenues/costs. You can revise the forecasted amount any number of times and with every modification the system sequentially increments the amendment #. However, you cannot revise the projected revenues/costs after the budget for the matching financial period is confirmed.

The status of the forecast is set to “Modified”.

 Note: This activity is not applicable for forecasts comprising formula defined through the “Set Formula” activity.

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