I’m preparing my first forecast for my company and I need to input a forecast to complete for contract line items. I have a contract that has more costs to complete than the budget will allow. Should I just put the remaining balance to the budget or should I show the line item as going over budget?
builderkp Selected answer as best June 23, 2024
Ruby answered your question fairly bluntly, but I do agree. You need to forecast the actual cost to complete not just the budget otherwise it’s not really a forecast. Some people may not like this so be prepared to stand your ground and justify the cost.
builderkp Selected answer as best June 23, 2024
You should show the over run otherwise it isn’t a forecast, its a lie.
ruby Answered question June 18, 2024