The Forecasting form is used to create "what if" scenarios for your project. The forecast is typically updated monthly or quarterly depending on your business needs.
Click to add Cost Codes. Once selected a list of Cost Codes that you set up for your project will be displayed on the left hand side of your screen. Click on the Cost Codes to add and "drag and drop" to the right hand side of your screen. Once all items are selected, click Save and Close.
Once saved, the Cost Codes selected will now appear as separate line items in grid. The majority of the items will be read only with the exception of the following fields: description, forecast to complete, task, % complete, start, finish, curve and notes. In order to edit the lines, click Edit. Enter values into the available fields and click Update Records.
This field will allow you to enter units of measure and quantities of that item. If this option is not selected, the line item will be a lump sum value.
1. Total Budget = Original Budget + Budget Changes
2. Anticipated Budget – PV = Looks at the periodic spread on the Original Budget and Budget Requests up to the current Forecast period (i.e., for this period where had we planned on being).
3. Anticipated Cost = Commitments + Non-Committment Costs + Commitment COs through the current Forecast period. If you have used the periodic spread on your Commitments then it will only show the value up to the current Forecast Period.
5. Actual Cost = Actual Costs (Committed/Non-Committment) through the current Forecast Period
6. Balance to Complete = Total Budget – Actual Cost
7. Forecast To Complete = This field can be manually entered or if you use the period spread for that Forecast line item it will be filled in by PMWeb. This is the field that will show up in the cost ledger/cost worksheet as “Forecast-Approved”
8. Forecast at Completion = Anticipated Cost.
9. Forecast Variance = Total Budget – Forecast at Completion.
