Add or Edit Forecast Page

Administrators are able to enter instructions for users that would display in this field. For more information on this setting, see Forecasting Settings Page Overview.

• Project: This field displays the project name.
• Name: By default, Forecast created on [present date and time] displays as the forecast name, but this name can be changed.
• Description: Enter a description for the forecast in this field. This description will display on the View Current Forecast page for users to reference.

• Expand/Collapse All (Toggle Hyperlink): Click the Collapse All link to collapse all the budget line items to display just the cost summary dollars. Click the Expand All link to display the cost summary dollars and each forecast item associated with the line items.
  Tip

  Click the Collapse All link after entering all your forecast items to see the bottom line dollar amount.

• Group By (drop-down arrow): Click drop down menu to group the line items by different segmentation.

  If your account code structure does not display more than one grouping, there will not be any additional Group By options. The Forecast utility has two modes: Detail Mode and Adjustment Mode.

• Switch to Adjustment Mode/ Detail Mode (Toggle Button): Click this button to toggle back and forth between Detail and Adjustment Modes. You may or may not be able to switch between Detailed and Adjustment modes, depending on account settings; for more information, see Forecasting Settings.
  • Detail Mode: For each budget line item, a list of forecasted commitments is recorded. Each item represents a future commitment that is not represented as a commitment or commitment change within the cost module. In addition to the description, assumption and forecast amounts there are check boxes for each forecast item that indicates whether or not the item is captured in the budget or in commitments.
  • Adjustment Mode: Each time the forecast is updated in adjustment mode, the cost manager is evaluating, on a budget line item basis, the unallocated against the amount of work left on the job and adjusting the reserve up or down as necessary.
• Forecast Data Table: Each account code can have one or more forecast items associated with it.
  • Description: Enter a description of the forecast item in this field.
  • Assumption: Enter an assumption for the forecast item in this field.
  • Forecasted Commitment: (Detailed Mode) This field is required. Enter the forecasted commitment amount in this field. Commas are automatically added to amounts when you click the Add link.
  • Budgeted: (Detailed Mode) By default, this check box is selected if the amount that you are forecasting is included in the budget amount. If you do not want the forecast item you are adding to be included in the budget amount, you should clear this check box so that the forecasted over/(under) will adjust to show that you are over the budget by this amount.
  • Committed: (Detailed Mode) By default, the "Committed" check box is unchecked and any amount entered for a Forecast entry will be reflected in the "Forecasted Commitment" value for the Budget Item. If a commitment is subsequently created in the Cost module, the "Projected Commitment" value will reflect that commitment's value. At that time, a manual step needs to be completed by checking the "Committed" checkbox. Once this is checked, the value will be removed from the "Forecasted Commitment" value to avoid adding the Forecast entry amount to the real "Projected Commitment" value.
  • Delete: (Detailed Mode) Click this link to remove the forecast item.
  • Net Adjustment: (Adjustment Mode) This field displays the net amount adjusted.
• Account Code: Displays the account code or budget line item code.
• Description: Displays the description of the account code.
• Calculate Unallocated Reserve: If this check box is selected, e-Builder will automatically calculate the Unallocated Reserve. The formula is as follows:

  Unallocated Reserve =  the Maximum of 0.00 OR (Current Budget + Σ (Detail Items that are not Budgeted) - Projected Commitments - Σ (Detail Items that are not Committed) ).

  When the budget is first approved, this check box is checked so that the Forecasted Over/ Under is -0-. If unchecked then the Unallocated Reserve column will be -0- and the Forecasted Over/ Under will be calculated based on the sum of (Projected Commitments + the Forecasted Commitments). If you are in Detail Mode, it is recommended that you uncheck the Use Unallocated Reserve check box when you are ready to enter your complete forecast for that line item. However, if you are in Adjustment Mode, you would always have this check box selected because you are simply adjusting up and down the Estimate at Completion. In these cases you want the Forecasted Over/ under to start at -0-.

• Budget: Displays the current budget or projected budget based on the account setting. Typically, a budget is the likely expenditure/ receipt of revenue.

  The use of Current Budget or Projected Budget is directly dependent on the account setting for forecasting in the Calculate Forecasted Over/ (Under) Using field on the Forecasting Settings page.

• Current Commitments: This is the amount of all approved commitment changes plus original commitments, and approved general invoices. The formula is as follows:

  Current Commitments = (approved commitment changes) + (original commitments) + (approved general invoices).

• Projected Commitments: Displays the projected commitments. The formula is as follows:

  Projected Commitments = the sum of Current Commitments + Pending commitment Changes + Projected commitment Changes + Pending Commitments.

  When cost items are pending or projected, a vendor is identified. These items are part of your overall forecast.

• Actuals Approved: Displays the dollar amount of approved invoices. This figure will assist you in determining risk. If a line item is almost completely paid it has less risk.
• Forecasted Commitments: Displays the list of specific scope items with Forecasted Commitment amounts. Note that the figure includes only those forecasted commitments with the Committed check box cleared. If your forecasted commitment is more than your budget and the unallocated reserve check box is selected, the over/(under) will be the difference of the two. For example, if your budget is $10 and your forecasted commitments is $20, your over/(under) will be $10.
• Unallocated Reserve: Displays the dollar amount of unallocated reserve. This figure indicates the forecasted expenditures that are not yet tracked in a commitment. The formula is as follows:

  Unallocated Reserve =  the Maximum of 0.00 OR (Current Budget + Σ (Detail Items that are not Budgeted) - Projected Commitments - Σ (Detail Items that are not Committed) ).

  For every detail (forecast) item that you enter under a budget item, you can check the “Budgeted” and/ or “Committed” check boxes to indicate that those detail items are either “budgeted” (when checked) or “committed” (when checked).  The formula therefore adjusts the unallocated reserve for each budget item upwards by the sum of detail items that have “Budgeted” box unchecked, and adjusts the unallocated reserve downwards by the sum of detail items that have the “Committed” box unchecked.

• Estimate at Completion (EAC): Displays the Estimate at Completion, which equals the sum [Projected Commitments + Forecasted Commitments + Unallocated Reserve]. This column is equal to the Current Budget or Projected Budget (initially) and then reflects real life circumstances (Forecasted Commitments) once the forecast is entered.
• Forecasted Over/(Under): Displays the forecasted Over/(Under), which equals the difference between the Estimate at Completion and the Current Budget or Projected Budget. So if the value is positive, if the project ended right at this given point in time, it would be over budget; if -0- or negative, you would meet or beat your targets.
• Documents Tab: This tab displays any files that have been attached to the forecast. From here you can also attach or remove documents to the forecast.
• Forms Tab: This tab displays any forms that have been attached to the forecast. From here you can also attach or remove forms to the forecast.
• Processes Tab: This tab displays any processes that have been attached to the forecast. From here you can also attach or remove processes to the forecast.