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The Forecasting feature in 4castplus allows you to forecast remaining Labor and Equipment Hours for either:

  • Named Resource i.e. Bob Smith or Resource Classes i.e. Project Manager  
  • Resource Class i.e. Project Manager 

The Forecasting option you will use will depend on the Labor and Equipment Estimating option that you have selected in your project Estimate Profile: By Named Resource or By Resource Class.  

 

 

Creating a Resource or Resource Class Forecast

Forecasts are entered in the Change Management feature in 4castplus, using the Change Forecast feature.  Change Forecasts allow you to trend, or forecast impacts on your project.  A Change Forecast does not appear for selection in Timesheets or Procurement, and is presented separately in Reports as a Forecast Budget.

 

  1. OpeProjects.
  2. Select the Change Mgmt tab.

 

  1. Click Resource Class Forecasting.
  2. Choose the Status Date.

  3. Select the workpackage in the Navigator.  
    1. To the right, the Resource Class Forecasts displays:
      1. Class: all Labor or Equipment Classes that have budget and/or actuals (burned) quantity for the workpackage
      2. Rate Type: unit of measure for the Labor or Equipment class.
      3. Baseline Qty: per the Baseline budget for the workpackage.
      4. Current Qty: Baseline budget plus approved Change Orders for the workpackage.
      5. Earned Qty: Current Qty * % Complete of the workpackage.
      6. Burned Qty: Actual quantity recorded for the Labor or Equipment Class on the workpackage.  This is the total of the Class transactions in the Workpackage Transactions To Date grid.
      7. Remaining Qty: Current Qty less Burned Qty.
      8. Pending Qty: Current Qty plus pending Change Orders for the workpackage.
      9. Current FTC (Forecast to Complete):  
      10. Your FTC:
        1. Enter your forecast of the  remaining Class quantity to complete the workpackage.
      11. Forecast VAC (Variance At Complete): Your FTC quantity less Current FTC
      12. Forecast Cost Rate:
        1. Enter the Cost Rate which you want to apply to Your FTC quantity.
      13. Forecast Revenue Rate:
        1. Enter the Revenue Rate which you want to apply to Your FTC quantity.
      14. FAC Quantity: Burned Qty + Your FTC
      15. FAC + Pending = Burned Qty + Pending Qty + Your FTC 
      16. Cost Rate: Cost Rate for Class per Labor Class table
      17. Revenue Rate: Revenue Rate for Class

    2. Directly below the Resource Class Forecasts, the Workpackage Transactions To Date will be displayed, as of the Status Date chosen.

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  1. Click Remarks to enter comments.  The Your FTC field will then appear with a red triangle in the upper right corner; remarks can be seen when you hover your mouse over the field.

 

 

  1. Click Launch Estimate to open up the Estimate screen.  In this screen, rather than input the FTC, you will input the Forecast VAC.
    1. For each Class, enter in the incremental change in Quantity.
    2. Enter in the Forecast Cost and Revenue Rate.
    3. Click Save, Save and Close or Cancel.

      Note:  Time-phased planning is not currently available for Resource Class Forecasts.

  1. Click To Excel to export the workpackage Resource Class Forecast to Excel.

 



 

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