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.
Navigation Path: Cost Management>Budgets>Forecasts
 Select ForecastUse to search for an existing forecast.
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 AddClick to add a new forecast. Note: only one forecast can be active.
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 Header DetailsProject: Select the project you want to create a forecast for.
Record: This field is automatically populated by PMWeb.
Description: Enter a description.
To this period: Enter period you are forecasting out to.
Revision:. Enter the revision number for this forecast.
Date: This field is automatically populated by PMWeb.
Status: The status (draft, submitted etc.) will automatically be updated by PMWeb based on the workflow configuration.
Options: Check the boxes if you want the forecast to include items (budget, commitments and actuals) that are in pending status.
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 SaveClick to save the header details.
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 Add Cost CodesClick 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.
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 Use UnitsThis 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.
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 DescriptionThis field will be automatically populated by based on the codes that were added. The field can also be modified if needed.
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 Forecast at CompletionEnter the amount you think the line item will cost once complete.
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 TaskSelect the task associated with the line item. The options available are based on the tasks established in the schedule module.
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 % CompleteEnter the percentage complete
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 StartThis field will be automatically populated based on the start date of the task selected. This field can also be edited.
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 FinishThis field will be automatically populated based on the finish date of the task selected. This field can also be edited.
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 CurveSelect the cash flow curve type for the line item.
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 NotesEnter any additional notes relating to the line item. Once all field have been entered, click Update Records.
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 PostClick to display your forecast in the cost ledger. Note: Only one forecast should be posted.
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 SnapshotClick to save a point in time snapshot of your current forecast.
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 Informational1. 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.
4. Anticipated Variance = Anticipated Budget-PV – Anticipated Cost
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.
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 CalculateClick to have the schedule percentage complete and actual costs calculate the forecast to complete. This will override the current values.
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