Project forecast

On project Financials tab you have the possibility to forecast expense and billing related figures. The forecasts are calculated based on fees and resourcing. When you click the Update forecast a prompt is shown to select what to update. Before confirming, you can also see if some previously entered values are going to be overwritten.

Update forecast calculates figures for current and future months (never to the past).

The basis of how resourcing works as a basis of the calculations:

• Revenue forecast: price of the user's default worktype on the project * amount of hours allocated to a given month.
  • If there is a default worktype set for the project or the phase with the resource allocation, price of that worktype is used instead.
  • If there is a phase-specific exception used that defines the price of the hour, that is used instead.
  • If an allocation spreads over several months, the division by month is based on workdays.
• Billing forecast: same logic as with revenue forecast, but will only be calculated if the specific worktype has Bill selection in the price list.
• Labor expenses: cost per hour on the user's work contract * amount of hours allocated to a given month.
  • If there is a case-specific exception for the user's hourly cost, that is used instead.

The basis of how fees works as a basis of the calculations:

• The first month is looked up from the Starting date.
• Frequency defines the intervals after Starting.
• When ending is after X times, amount of occurrences into forecast are created.
• When ending is on a certain date, amounts until the month of selected date are created.
• When ending is never, occurrences for 12 months forward are created.

When Revenue recognition add-on is in use, it is not possible to enter revenue forecasts manually for projects in project's Financials-tab.

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