Use the 'Forecast to Complete' Feature

To ensure that future activities and costs on your project remain accurate and consistent, it is important to actively manage and monitor your project's budget. If that activity is your responsibility (for example, if you are a project manager or project accountant), you may need to generate weekly or monthly reports to clearly account for all your project's billable costs (in other words, what has been completed on the project) and projected costs (in other words, what remains to be completed on the project).

To help your project team gain a greater understanding of what remains to be completed on a project, a 'Forecast to Complete' column is included, by default, on several of the Budget tool's 'Standard Views' (for example, Procore Standard Budget, Blank Budget View, (Multi-Level) Procore Standard Budget, Procore ERP Direct Cost Budget, Procore Standard Forecast, and Procore ERP Direct Costs Forecast). This column can also be added to any customized budget or forecasting views that you choose to create. See Set up a New Budget Viewand Set Up a New Forecasting View.

With the 'Forecast to Complete' column, you can:

• Estimate the 'Projected Over/Under' cost for each budget line item
  This ensures that the total in the 'Estimated Cost at Completion' column is accurate and consistent with your previous weekly or monthly projection.

• Choose the calculation method to apply on a per-line-item basis

  • The Automatic Calculation setting calculates the remaining project costs by subtracting the 'Projected Budget' from the 'Projected Costs' to maintain a net-zero ($0) 'Projected Over/Under' value for each budget line item.

  • The Itemized Manual Entry setting lets you add items and amounts to create a more realistic forecast based on key job insights.

  • The Lump Sum Manual Entry setting lets you enter a single, fixed amount to forecast the remaining cost at completion for a specific budget code.
    Note: While this setting is visible in both the Budget and Forecasting tables, it can only be configured within the Forecasting tab of the Budget tool.

  • The Monitored Resources setting lets you add time/duration-based items that automatically draw down as time progresses throughout the project.

• Add forecasting notes
  Record a helpful note that documents the reasoning for the forecasted value for each budget line item. There is no limit on the number of characters you can enter on a note.

• Required User Permissions:

  • 'Standard' level permissions or higher on the project's Budget tool.

• Additional Information:

  • You can configure the 'Forecast to Complete' setting to Automatic Calculation, Itemized Manual Entry, Lump Sum Manual Entry, or Monitored Resources on a per-line-item basis.

  • You can add notes to each line item.

  • The 'Notes' entry is preserved if you decide to switch between Automatic Calculation, Itemized Manual Entry, Lump Sum Manual Entry, and Monitored Resources.

  • Important! When you switch from Itemized Manual Entry to Automatic Calculation, all previously added Itemized Manual Entry items will be deleted.

• Net Zero Calculations:

  • A user with 'Admin' permissions on the Budget tool can configure the 'Forecast to Complete' column to have an automatic net-zero calculation under the Budget tool's configuration settings.
    Note: This setting is applied only to new line items that you add to the budget.

  • A lightning bolt icon in the 'Forecast to Complete' column indicates the automatic net-zero calculation has been applied.

  • A question mark ? icon indicates the 'Forecast to Complete' column cannot be changed. See Add a Partial Budget Line Item.

• For companies using the ERP Integrations tool:

  • You can export a cost forecast from Procore to some integrated ERP systems. See How do I export cost forecast data from a Procore budget to ERP?

• Set up a New Budget View

• Set Up a New Forecasting View

1. Navigate to the project's Budget tool.

2. Click the Budget or Forecasting tab.

3. Locate the budget line item that you want to examine.

4. Select the desired calculation method:

   • Automatic Calculation

   • Itemized Manual Entry

   • Lump Sum Manual Entry (Forecasting Tab)

   • Monitored Resources

Follow the steps below to enable the Automatic Calculation option on a budget line item. Automatic calculation is the default setting in the project's Budget tool. This option calculates the difference between the values in the 'Projected Budget' and 'Projected Costs' columns. That difference is displayed as the value in the 'Project Over/Under' column.

To update the Forecast To Complete calculation:

1. In the Forecast To Complete column, select Automatic Calculation using one of these options:

   • Click the drop-down menu next to the amount and select Automatic Calculation.

   • Click the hyperlinked amount to open the configuration panel, then select Automatic Calculation from the Calculation Method drop-down menu.

     1. (Optional) Enter any relevant information about the forecast in the Notes text box.
        Note: The Notes text box is only available in the configuration panel. It cannot be accessed via the drop-down menu in the Forecast To Complete column.

     2. (Optional) Click the bottom panel view icon or side panel view icon in the configuration panel to dock it to the bottom or the side of the table.

     3. Click the close icon.

To update the Forecast To Complete calculation:

1. In the Forecast To Complete column, select Itemized Manual Entry using one of these options:

   • Click the drop-down menu next to the amount and select Itemized Manual Entry to open the configuration panel.

   • Click the hyperlinked amount to open the configuration panel, then select Itemized Manual Entry from the Calculation Method drop-down menu.

2. (Optional) Click the bottom panel view icon or side panel view icon in the configuration panel to dock it to the bottom or the side of the table.

3. To add line items, click Add Line Item.

   1. For each line item, enter the following:

      1. Description
         Enter a description for the new line item.

      2. Quantity
         Enter a quantity. By default, the entry is set to 1.

      3. Units
         Select a unit of measure (see Which units of measure are included on Procore's master list?). The default selection is ‘ls’ (lump sum).

      4. Unit Cost
         Enter the cost per unit. For example, type: 100.00. The default entry is zero (0.00).

      5. Amount
         Enter the total cost associated with the line item. This is the number of units multiplied by the unit cost.

   2. Add line items as needed.

4. (Optional) Enter any relevant information about the forecast in the Notes text box.
   Note: The Notes text box is only available in the configuration panel. It cannot be accessed via the drop-down menu in the Forecast To Complete column.

5. Click the close icon.

This Lump Sum Manual Entry method should be used when you want to input a single figure to forecast the remaining cost at completion for a specific budget code in a project's budget. In the Budget tab, Procore populates the 'Lump Sum Manual Entry' amount with the 'Forecast To Complete' amount. If you want to input a different amount, you must edit the amount in the 'Forecasting' tab. To learn how to set up a forecasting view, see Create a Forecasting View.

To update the Forecast To Complete calculation:

1. Click the Forecasting tab.

2. In the Forecast To Complete column, select Lump Sum Manual Entry using one of these options:

   • Click the drop-down menu next to the amount and select Lump Sum Manual Entry.

     1. Enter a lump sum amount into the text box in the cell.

   • Click the hyperlinked amount to open the configuration panel, then select Lump Sum Manual Entry from the Calculation Method drop-down menu.

     1. Enter a lump sum amount in the Amount text box.
        

         Important

        Because your lump sum entry overrides the 'Forecast to Complete' amount in the budget, it is important to understand the implication that using this calculation can have on your overall budget forecast.

     2. (Optional) Enter any relevant information about the forecast in the Notes text box.
        Note: The Notes text box is only available in the configuration panel. It cannot be accessed via the drop-down menu in the Forecast To Complete column.

     3. (Optional) Click the bottom panel view icon or side panel view icon in the configuration panel to dock it to the bottom or the side of the table.

     4. Click the close icon.

The 'Monitored Resources' column forecasts your projected costs based on the resource rates and time, and then introduces resources, applying a time and date, and adding a unit cost and utilization rate for resources within a budget code. Procore automatically draws down the 'Forecast To Complete' amount over time.

To update the Forecast To Complete calculation:

1. In the Forecast To Complete column, select Monitored Resources using one of these options:

   • Click the drop-down menu next to the amount and select Monitored Resources to open the configuration panel.

   • Click the hyperlinked amount to open the configuration panel, then select Monitored Resources from the Calculation Method drop-down menu.

2. (Optional) Click the bottom panel view icon or side panel view icon in the configuration panel to dock it to the bottom or the side of the table.

3. To add line items, click Add Line Item.

   1. For each line item, enter the following:

      1. Description
         Enter a description for the new resource line item.

         Example

         Examples include:

         • Project Manager Level 1, Level 2

         • Office Trailer Rental

         • Temporary Toilet Facilities

         • Temporary Storage Container Rental

      2. Start Date
         Select a start date for the resource's line item.

      3. End Date
         Select an end date for the resource's line item.

      4. Units Remaining
         Choose Weeks or Months. Weeks is the default selection. Procore uses today's date to calculate the 'Units Remaining' value automatically and continues to draw down the remaining amount at the end of each week or month.

      5. Unit Cost
         Add the cost per unit. The default setting is zero (0.00). For example, enter 100.00.

      6. Utilization
         Enter the percent of the resource that is utilized within the given duration of the line item.

          Note

         Your entry in the previous column determines how the value in each column populates.

         Note: Procore does not permit you to pro-rate costs. For example, 8 days is equal to 2 weeks, not 1.14 weeks.

         Column Name	Calculation
         Calculated Unit Cost	Utilization Rate * Unit Cost
         Forecast to Complete	Calculated Unit Cost * Units Remaining
         Planned	Calculated Unit Cost * Total Units This value applies to the start and end date that you specificed.

   2. Add line items as needed.

4. (Optional) Enter any relevant information about the forecast in the Notes text box.
   Note: The Notes text box is only available in the configuration panel. It cannot be accessed via the drop-down menu in the Forecast To Complete column.

5. Click the close icon.