(Release date: Sept 14, 2019)
Do you need to create projections of your project’s spend over time? ProjectSight’s new Cost Forecast feature allows to do exactly that. Using the Cost Forecast module, you can create projections based on:
- A project's budget items
- A contract's schedule of values
- A summary of of one or more projects
You’ll find this new feature located within the Budget and Cost Management module:
Depending on the type of forecast, you’ll be able to project the cost for each line item over time. Costs for each month may be manually entered or automatically calculated using distribution options such as Bell Curve, Front Load, Backload, or Linear. You can even use a combination of manual entry and automatic distribution.
Historical information from previous cost forecasts may be viewed on the chart tab. This summary shows you how your cost forecasts compare against the project’s actual invoices.
If you want to include a cost forecast in the cost forecast chart, make sure that you switch on Include in Charts. ProjectSight’s forecast chart will only include forecast data from forecasts where this switch is turned on.
For more information on cost forecast, please see the online help section.