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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / Project Forecast Vs Pr...
Microsoft Dynamics AX (Archived)

Project Forecast Vs Project Budgeting

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Posted on by lally 8

Hi All ,

In Ax 2012 Project Accounting have the two functionality like Project Forecast ,  Project Budgeting.

Could any share me what is the difference between Project Forecast Vs Project Budgeting ? Explain with an example.

Is it mandatory to define the Project Forecast first then need to transfer to Project budgeting ?

Thanks in advance.

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  • Suggested answer
    Brian Welcker Profile Picture
    Brian Welcker on at

    Project budgeting was introduced in AX 2012 and was designed to replace project forecasts. It offers several advantages over forecasts including a single form for budget definition (there are separate forms for each forecast type) and workflow types that allows original or revised budgets to go through an approval process. You can also define budgets for an entire project hierarchy rather than individual projects.

    However, there are some features of project forecasts that didn't make it into budgets. They have first class support for quantities (rather than just amounts). It is also easier to specify the dates on project forecasts. Budgets have a allocation function where you can take a lump sum amount and split it over periods but it is a bit obscure. You can also create forecasts from the WBS (which you can then use to populate the budget).

    We did make some improvements to budgets in R2 CU7 and R3, described in my blog: blogs.msdn.com/.../project+budgeting.

    As to your question, you do not need to create forecasts to create budget lines.

    In the future, we will merge the two concepts with the best features of both. In the meantime, I would see if you can get by with the budgeting features or whether you need both.

  • Suggested answer
    Bashir Ahmad Profile Picture
    Bashir Ahmad 5,248 on at

    forecasting vs budgeting:

    http://blog.ignify.com/tag/dynamics-ax-2012-budgeting-and-forecasting/

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