Forecasting Page Overview

The Forecasting page is the first to display when accessing the Forecasts entity. After forecasts have been created, this page provides an overview of the following sections:

  • Current forecasts- those saved as final drafts
  • Working forecasts - those in edit mode
  • Forecast snapshots- those saved as final versions and made into snapshots for easy retrieval and access later on.

Fields and Buttons

The fields and buttons located on this page are:

  • Forecasts: This section lists and provides information on Current Forecasts and Working Forecasts.
  • Forecast Snapshots: This table lists all saved snapshots. Forecast snapshots are all finalized forecasts that are no longer in use. When current forecasts are saved as final drafts, users have the option of saving them as a snapshot for historical record keeping. Click the Rename link to rename the forecast snapshot. Click the forecast name to access the snapshot.
  • Current Forecast: Current Forecast is the most recent finalized forecast that is reflected in the Cost Summary and reports. After you finalize a working forecast it automatically becomes the new current forecast. If a current forecast existed prior to finalizing the working forecast, it can be saved as a Snapshot for historical record keeping.
    Click this link to open the View Current Forecast page to view details or take any of the following actions:
  • Working Forecast: The Working Forecast is the forecast currently being worked on, in edit mode and has not been finalized (or published). As long as you continue to work on it and save it as a draft, it will continue to be the working forecast, so that you can save your work as you go. There can only be one working forecast at a time. A robust feature of the Working Forecast functionality is that it allows administrators to do "what if" scenarios. You can forecast item amounts, add a new forecast items to different account codes, or create different combinations to see the potential impact of changes before you undertake the work and truly realize the costs. If working forecast dos not exists and you want to create one, click the Edit Forecast button. Once selected, e-Builder will start a new working forecast from the Current Forecast (if one exists). For more information on working with forecasts, see the following: Create a Forecast, Edit Forecasts. Click this link to open the Edit Forecast page and continue working on this draft.
  • Budget: This column either displays the current or projected budget, as determined by your e-Builder Administrator while configuring the forecast settings. A description of each is provided below:
    • Current Budget: This is the approved original budget and all approved budget changes.
    • Projected Budget: This total includes the original budget amount plus all pending, projected, and approved budget changes.
  • Current Commitments: This is the amount of all approved commitment changes plus original commitments, and approved general invoices. The formula is as follows: (approved commitment changes) + (original commitments) + (approved general invoices).

    This field may or may not display depending on the setup options. To locate this setting, see Forecasting Settings Page Overview.

  • Projected Commitments: This total is the sum of current commitments, pending commitments, pending commitment changes and projected commitments.

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

  • Actuals Approved: Displays the amount of approved invoices.

    This field may or may not display depending on the setup options. To locate this setting, see Forecasting Settings Page Overview.

  • Allocated Forecast: Displays the total sum of all forecast dollars entered for all budget line items.
  • Unallocated Forecast: Displays the amount that makes up the current budget, minus projected commitments, minus forecasted commitments. This column holds the forecasted expenditures that are not yet tracked in a commitment. Some organizations call this column To Be Bought'.
  • Estimate at Completion: This column is equal to the current budget initially and then reflects real life circumstances (allocated forecasts) once the forecast is entered. This is the total sum of projected commitments + forecasted commitments + unallocated reserve.
  • Forecasted Over/ Under: Displays the forecasted over/ under, which is the difference between the estimate at completion and the current budget. If the value is positive it means the project is currently over budget. If the value is negative, then you are projected to meet or beat your budget.
  • Name: Displays the name of the snapshot. A snapshot is created once you finalize a working forecast. The current forecast becomes the snapshot and the working forecast that is finalized becomes the current forecast.
  • Date: Displays the date the snapshot was created.