How to Edit and Delete Forecasts

As your project progresses, you'll need to update forecasts to reflect real-world circumstances. This guide covers how to edit forecast details, close outdated forecasts, and delete forecasts created in error.

Before you start:

• Ensure you have edit permissions for the project
• Consider whether to close rather than delete old forecasts to maintain project records
• Gather updated cost information and supporting documentation

Steps

Edit an existing forecast

1. From your project dashboard, click Cost in the side navigation bar
2. Click the Forecast tab at the top navigation
3. Locate the forecast you want to update in the forecast list
4. Click the Action button (...) beside the forecast
5. Select Edit Forecast from the drop-down menu

Update forecast details

1. In the Edit Forecast window, update the forecast by modifying the necessary details
2. Click Update to save your changes

Result: The forecast final cost automatically recalculates based on your changes, ensuring your project totals remain current.

Close a forecast (recommended practice)

Instead of deleting old forecasts, close them to maintain project records.

1. Click the Action button (...) beside the forecast you want to close
2. Select Edit Forecast from the drop-down menu
3. Click the Status drop-down menu
4. Select Close
5. Click Update

Result: Closed forecasts don't impact your forecast final cost but maintain a record for project review and audit purposes.

Delete a forecast (use sparingly)

Only delete forecasts that were created in error.

1. Click the Action button (...) beside the forecast you want to delete
2. Select Delete Forecast from the drop-down menu
3. Click Delete to confirm

Managing risk-based forecasts

If you delete a risk-based forecast, you'll need to manage it separately in the Risk module:

1. Click the Action button (...) beside the risk
2. Select Go to Risk from the drop-down menu
3. Update the risk-based forecast in the Risk module

Troubleshooting

Problem: Forecast final cost seems inaccurate Solution: Review all forecasts to ensure they're current and comprehensive

Best practices

• Close forecasts instead of deleting them to maintain project history
• Update forecasts regularly as project conditions change
• Develop realistic forecasts rather than optimistic projections
• Document reasons for forecast changes in the notes field
• Review forecast final costs after making changes to ensure accuracy