Forecasts: Create, Edit and Delete

📚 In this article you will learn how to:

• Create Forecast
• Edit Forecast 
• Delete Forecast 

👨‍🏫 Create Forecast

To create and add a Forecast, follow these easy steps!

Step 1: To add a Forecast in the system, got to the 'Hamburger Menu and click the 'Cost Module'.

Step 2: Select ‘Add Forecast' from the tool bar; or; from the 'Overall' page, select a Three Dots Menu () and click 'Add Forecast'. 

Step 3: The Add Forecast form will open and present fields for you to enter:

• Forecast Title: E.g. 'Risk 1: Design Risks' or 'Allowance for scope changes'.
• Type: E.g. Uncommitted, Risk Provision, Project Contingency, Client Contingency (read more about Types here!)
• Status: E.g. OPEN/CLOSE
  • OPEN - An active Forecast that is included on calculations and charts across the Dashboard, Overall and Cash Flow!
  • CLOSED - For record keeping! Doesn't show on calculations and charts - only appears in the Forecast register.
• Cost Plan/Location: Select where you'd like to nest this Forecast
• Starting Amount: E.g. $10,000
• Likelihood (%): E.g. 50%
• Current Amount:  E.g. $5,000 ($10,000 x 50%!) Current Amount is the value which is included on calculations and charts across the Dashboard, Overall and Cash Flow!
• Click 'Add Forecast' when you're done.

Click 'Add Forecast' in the bottom right of the form when you're done. 

Step 4:  If at Step 1 you selected the ‘Add Forecast’ from the toolbar, you'll need to select a location for the Forecast. Under the column 'Cost Plan' in the Add Forecast form, select where you'd like this Forecast to live. One benefit of selecting Add Forecast from the Three Dots Menu () next to the relevant Budget or Contract on 'Overall', is that it pre-populates the location for you.

Step 5: To view the Forecasts you've created, check out the list of all Forecasts on a project in the Forecast register by clicking on 'Forecasts' in the top menu.

OR;

View the Forecast on the 'Overall' screen, where you can unravel down to see the Forecast you've created. For more information on how Forecasts affect the Overall screen, check out this article here.  

Step 6: Click the Forecast Title and take a deep dive on the Forecast you've created by visiting the Forecast's Detail View. 

Step 7: Also, definitely check out the Dashboard! When used together, Forecast types provide an accurate display of the Project's or Program's financial composition.

👨‍🏫 Edit Forecast

Editing Forecasts and their Type is super easy, follow these easy steps!

Step 1: To edit a Forecast in the system, this can be done in a few ways. 

• One way, is to go to Forecast Register and find the Forecast you'd like to Edit. 
  Select 'Edit Forecast' from the from the Three Dots Menu ( ) against the Forecast you'd like to edit. 
• From the 'Overall' page, select a Three Dots Menu ( ) next to the Variation you are wanting to edit and click 'Edit Forecast'.

or;

Step 2: In the Edit Forecast form, you'll notice its the same as the Add Forecast form.
Once you're happy with the updates, click 'Update Forecast' in the bottom right of the form.

 👨‍🏫 Delete Forecast

Step 1: Go to Forecast Register and find the Forecast you'd like to delete. 

Click the Three Dots Menu against the Forecast you'd like to delete and select 'Delete Forecast'.

Step 2: After clicking Delete, you'll receive a popover notification based on the system's built in Business Rules, required due to the inter-dependencies with Contracts, Payments and Cash Flow.