Entering a Contract Forecast

Note: Best Practice would be to complete your PCI Projection review first. CLICK HERE for the How To, although adjustments can be made in the Forecasting screen directly

Note: CLICK HERE for Forecasting Tips/Tricks

Note: CLICK HERE to navigate to the Forecasting Column & Highlighting Explanations How To

STEP 1: Expand Budget & Cost Management

STEP 2: Click Contract Forecasting

STEP 3: Confirm the Contract (Should be the job # you are forecasting

STEP 4: Confirm the right period (Only one (1) period will be open at a time in the system. if you are late with your forecast and the period has been closed, contact your Financial Manager for resolution.) 

STEP 5: Click Go

STEP 6: Click Clear Overrides (You always want to start with a fresh slate so that the calculations are current, Best Practice is to clear overrides at the beginning if each period)

STEP 7: Click All

STEP 8: Click Yes

STEP 9: Click Refresh (This will bring in all new data)

STEP 10: Click All

STEP 11: Click Yes

STEP 12: Review and complete the updates needed to reflect what is going on on the project

Note: Always forecast as if you were not going to be on the project tomorrow. Leave the next person a full history via the PCIs

Note: Remember you have two budgets to forecast, What is it going to cost you? & What can you get paid for by the owner? If it is going to COST you something but you can't get that money from the owner, that is an NCTO with a full explanation. That will drive your Cost budget up and tell the full truth of the project.

Note: Best practice is to never have spent costs higher than your Cost budget, without a PCI explaining the history

Once you have completed your Review and Updates

STEP 13: Click Forecast Comments

Note: As of 7/3/2023 the Schedule Substantial Complete is a required field.

Note: As of 10/3/024 the Planned % Completed has been added, make sure to get this % from your scheduler and enter each month

STEP 14: Run your PSR report and review

STEP 15: Once you are happy with your PSR, go back to Contract Forecasting and click Store Forecast

Note: Your last period data on your PSR pulls from the Stored Forecast for the next month so make sure you are clicking this button or your Last Period Data will not be correct.

STEP 16: Click Ok