Managing Forecasts in Mastt

The Forecast register is where you track costs that aren't yet committed to a contract: anticipated expenses, contingency and risks. Forecasts feed into your Forecast Final Cost (FFC), so keeping them current keeps your financial reporting honest.

How forecasts affect your numbers

A forecast's status decides whether it counts towards your financial reports.

Status	Counts towards financial reports?	Use it for
Open	Yes	An active forecast
Draft	No	A forecast you're still working on. It has no impact on FFC, EAC or financial reports until you set it to Open.
Closed	No	A forecast that's no longer needed. It stays in the register for your records.

Open forecasts appear in the Uncommitted column on the Overall page and flow through to:

Forecast Final Cost (FFC), also known as Estimate at Completion (EAC)
FTC/ETC (Forecast to Complete), calculated as Final Forecast Cost minus paid payments plus paid retentions

Want to see what makes up the Uncommitted total? On the Overall page, click Columns, scroll down and tick the optional breakdown columns: Unapproved Variations, Pending Contracts, Forecasts and Risks. The Risks column is hidden by default.

Forecast types

Type	Use it for
Uncommitted Cost	Anticipated expenses that haven't been contracted yet
Client Contingency	Contingency managed by the client
Project Contingency	Contingency managed by the project team

Create a forecast

Open the Forecast tab in the Cost Module and click Add Forecast.
Enter a name and select the type and status.
Enter the amounts (see below).
Select the budget the forecast belongs to. This decides where it sits in your financial hierarchy.
Add notes and attachments if you need them, then click Add.

Amounts depend on the type:

Type	Enter	Mastt does the rest
Uncommitted Cost	Starting amount and a likelihood percentage (the probability the cost will be incurred)
Client or Project Contingency	Starting amount, then update the remaining amount as contingency is used	Calculates the current contingency

Edit or close a forecast

Click the three dots next to the forecast and select Edit Forecast.
Update any field. To close it, set the status to Closed.
Click Update.

Close forecasts, don't delete them. Closing removes the financial impact but keeps the historical record. Closed forecasts stay visible in the Forecast register and in forecast tables on dashboards.

Forecasts from the Risk module

Risks sent from the Risk module to the Cost Module appear in the Forecast register alongside your forecasts. You can spot them by the yellow R icon and the type Risk. Their cost impact counts towards your forecast like any other forecast.

You can edit risks in full without leaving the Forecast register:

Click the three dots next to the risk.
Select Edit Risk to update it, or Go to Risks to open it in the Risk module.

You can also edit risks in full from the Overall page.

To create and manage risks, see Managing Project Risks in Mastt.

Troubleshooting

Problem	What to try
A forecast isn't showing in financial reports	Check its status is Open. Draft and Closed forecasts don't count towards financial reports.
Contingency looks wrong	Check both the starting amount and the remaining amount.
A closed forecast still appears	That's expected in the Forecast register. It no longer affects financial totals. Refresh the page if it still shows in the totals.
I don't see a Risks breakdown on the Overall page	The Risks column is hidden by default. Click Columns on the Overall page, scroll down and tick Risks.

Need help?

Contact Mastt Support for additional assistance.