Contract Forecasting

This module looks at the use of Contract Forecasting within Workbench.

Forecasting is an important Management tool to review costs to date and forecast costs to complete.
The forecasting includes:

• Budgets
• Actual Costs
• Outstanding Commitments (Purchase Orders)

And also allows for the inclusion of:

• Balance of Budget (This gives you the choice of bringing into the forecast the balance remaining of the budget after actual costs and commitments or not).
• Additional risk items
• Other adjustments

It then displays the Forecast Final Cost and the Savings / Overrun compared with budget.

Forecasting is at Job / Subjob level and even though it can be displayed at Activity level the main display of the forecast is by Work Centre.