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