How to create gWBS Accounts
This article describes how to create and to load gWBS Accounts with Forecast Data, and another article describes how to manage gWBS Accounts for progress reporting.
As you already know, the wealth of current project cost information is available instantly from the database of D-E Accounting. This information - gathered in ledgers automatically, thanks to the data entry made into the four Journals - allows the Cost Engineer to assess immediately the current financial and time-cost position of his project. Moreover, he can generate all kinds of reports, illustrated by histograms and S-Curves, within the matter of a few minutes.
However, as you also know, any complex engineering project may comprise several thousands of project cost items. To create one Cost Account for each Cost Item would be impractical, making the bookkeeping job almost impossible. Therefore, project costs shall be grouped in gWBS Accounts, where each gWBS Account corresponds to the Cost Account of the same name. In such cases, the cost and work progress of such Cost Account depends on the cost and progress of its related gWBS Account.
This article shows how to create and how to load gWBS Accounts with the cost data. Our another article explains how to manage gWBS Accounts to report progress. In both articles, references are made to the new version 5.0 of TECA, where the data transfer between the gWBS Account and the Forecast Journal and Expense Journal is greatly simplified, as compared with the original version 4.1 of TECA (supplied so far with the book).
The structure of any gWBS Account consists of the HEADER PART and two FOLDER PARTS. Clicking on the folder named GLOBAL WBS PROGRESS (click here) displays the editable input data fields where Progress can be defined by current Earned Value. Clicking on the folder named PARTICIPANT EARED WORK (click here) displays the non-editable output data fields where current Earned Work remains automatically calculated by TECA for all involved Project Participants, based on the current status of the Earned Value folder.
There are four procedures for creating gWBS Accounts:
Majority of gWBS Account are created at the project initiation stage, by grouping costs obtained from Project Cost Estimate, and allocating them into various gWBS Accounts. However, sometimes when the Project is already advanced, it may be necessary to add new gWBS Accounts to already existing Cost Accounts that so far had no gWBS Accounts. Any gWBS Account can be created singly, or more gWBS Accounts can be created at once in the batch mode. Procedure Steps may appear alike in various procedures, but the major differences appear mainly at the procedures start.
PROCEDURE #1 - Standard
Creating one gWBS Account when corresponding Cost Account does not exist yet
You should use this procedure at the project initiation stage to transfer some costs from Project Cost Estimate into one gWBS Account, when its related Cost Account does not exist yet. Start on any typical gWBS Account detail screen, Click here screen (#1) to display the first screen of the set of screens that explains this procedure. By scrolling down, you can review all remaining screens of this set. You will access also any one of these screens individually, when clicking within the text related to each step. The example shows one gWBS Account, type MATERIALS, entitled "Lifting Cranes Procurement".
1. Create new gWBS Account by clicking the button ADD NEW located in the Header. In response TECA displays the screen (#2) where the following input is needed in the header:
2. Create new Cost Positions in the sub-screen - see screen (#3) - by clicking the button EDIT, and then:
3. Create new Cost Account:
4. Create and post new Forecast Journal Entry:
PROCEDURE #2 - Batch
Creating many gWBS Accounts when corresponding Cost Accounts do not exist yet
If the volume of cost data is large, you may want to use this procedure at the project initiation stage to transfer costs from Project Cost Estimate into many gWBS Accounts at once, when their related Cost Accounts to not exist yet. By implementing EXCEL worksheet as the means of data input, this method is particularly suitable when Cost Estimate was prepared with EXCEL too, as then data formatting is extremely easy.
This procedure is depicted by a set of TECA screens. By scrolling down the first screen, you can review all remaining screens of this set. You will access also any one of these screens individually, when clicking within the text related to this procedure, as described below. As an example, demonstrated is one gWBS Account, type MATERIALS, entitled "Instrumentation Package AB-3".
1. Create input data in an EXCEL worksheet; screen (#1). As you can see, this worksheet is listing many instruments with their estimated costs, items that shall be procured. The input format is very simple and self explanatory: '1' in column 1 indicates the header line, and "0" the instrument data. The worksheet shows input data for one gWBS Account only. However, any number of additional data sets of any length for many additional gWBS Accounts may appear in the Excel worksheet, simply starting each new set with placing '1' in column 1.
2. To create gWBS Accounts by the batch method, the screen (#2), entitled Create gWBS Accounts using Excel File, shall be used:
3. Create new Cost Account
4. Create and post new Forecast Journal Entry:
PROCEDURE #3 - Standard
Creating one gWBS Account when corresponding Cost Account already exists
You may need to use this procedure when your project is already advanced and when some existing Cost Account, that so far had no gWBS Account, now needs one. This procedure is very similar to the Procedure #1, except that the Cost Account already exists, with the Total Forecast already defined. In this case, the gWBS Account is used only to breakdown the Total Forecast - already defined in the Cost Account - into many Cost Positions within the gWBS Account, allowing to trace the progress individually for each Cost Position. The example shows one gWBS, type CONSTRUCTION, entitled "Clearing and Grading".
1. On the screen (#1), of the Cost Account that needs the gWBS Account, click the button gWBS ACCOUNT, and in response TECA displays the screen (#2) where the input for the header screen only is already provided by TECA, inclusive of the Total Forecast value.
2. Create new Cost Positions in the sub-screen, screen (#3), (similarly as in Procedure #1) by clicking the button EDIT, and then:
Because the related Cost Account exists and its Forecast is defined, you must ensure that the sum of Cost Positions in this new gWBS Account is equal to the Total Forecast. When clicking the button UPDATE, TECA would warn you if there some unbalance remains.
PROCEDURE #4- Batch
Creating many gWBS Account when corresponding Cost Accounts already exists
You may need to use this procedure when your project is already advanced, but you want to create gWBS Accounts for many existing Cost Accounts that so far had no gWBS Accounts . This procedure is extremely simple, because all missing gWBS Accounts can be created by TECA at once, with one click. After all missing gWBS Accounts have been automatically and instantly created by TECA, each new gWBS Account shall be loaded with the cost data, sum of which must be equal the Total Forecast of the related Cost Account.
1. You shall start with the gWBS listing screen: screen (#1).
2. Very often you may need only some gWBS Accounts but not all just created. Therefore, to keep the wanted ones only, do the following:
3. After that, you shall execute only the Step 2 of the PROCEDURE #3 for each newly created gWBS Account, to load it with the cost data. However, there is no need to create new Cost Accounts or to post the data, as all related Cost Accounts already exist.
Alternatively, you may execute only the Step 2 of the PROCEDURE #2, except modified, with '2' instead of '1' placed in the EXCEL worksheet column 1, as explained below. This method is extremely efficient, particularly in case of large volume of cost data that must be loaded into all newly created gWBS Accounts.
Start on the screen (#5), entitled Create gWBS Accounts using Excel File:
Click FIN and locate the existing EXCEL input file; in our case C:\TECA\ExcelWBSMulti2.xls. This input file contains cost data for four (4) gWBS Accounts; there '2' appears is column 1 at the start of each account data set. See screen (#6).
Click SHOW WORKSHEET and read the extend of the input data; in our case A2:G169
Click CREATE MS ACCESS TABLE and confirm the prompt. In response, TECA creates the table and asks you if you want to display it.
Click SHOW CURRENT TABLE only if you want to see it; this step is optional.
Click CREATE gWBS ACCOUNTS and confirm the prompt. In response, TECA creates new gWBS Accounts.
Click SHOW TEMPORARY GWBS and confirm the prompt. In response, TECA displays the listing screens of all newly created gWBS Accounts. Click here to see screen (#7).
Each newly created gWBS Account is already loaded by TECA with the cost data. See the screen (#8) for an example of one newly created gWBS Accounts with all cost data in place. Notice that the sum of Cost Positions is equal the Total Forecast of the related Cost Account.
CALCULATOR - an extra feature
You may use the CALCULATOR pop-up screen, to distribute the Total Forecast between the Cost Positions. Click the button CALCS located in the HEADER to display the pop-up screen. Into the data fields named SHARE of the CALCULATOR, enter integer figures resembling the cost distribution between the Cost Positions. Click here to see an example - screen (#9). After you have clicked the button UPDATE on the CALCULATOR, TECA makes instantly the cost distribution. Then you should use the Copy-and-Paste command (Ctr-C and Crt-V) to copy the dollar figures into the Cost positions, as shown in the example.