Effortlessly update your forecasts using our specialized widget, transforming it into a powerful tool that delivers real-time insights into project performance, helping you stay ahead with proactive decision-making.
Go to the appropriate dashboard that contains the Revenue Forecasting widget
Click the Options menu
Select Edit Revenue Forecasting
If there are summary cost codes, click the arrow on the left to expand all of them or just the specific group you want
IMPORTANT: You can manually adjust the value for each month, but ensure the Forecast Balance Remaining remains positive
Project-wide revenue forecasting (spread method)
To quickly spread the balance to finish across the whole items:
Click Spread Balance To Finish Across Table Forecast Range
In the Spread Value pop up, adjust the forecast start/end dates
Select one of the available spreads amongst the following:
Linear - Revenue is spread evenly across the entire project duration.
Front Loaded - A larger portion of the revenue is recognized early in the project, with less revenue spread over the latter part
Back Loaded - A smaller portion of revenue is recognized early on, with the bulk of revenue recognized in the later stages
S Curve - Revenue starts slow, accelerates in the middle, and slows down again toward the end. The curve forms an “S” shape
Reverse S Curve - The reverse of the S Curve, where the bulk of the revenue is recognized at the beginning and end of the project, with a slowdown in the middle.
Bell Curve - Revenue accumulates slowly at the start and end, with most revenue recognized in the middle of the project. This forms a bell-shaped curve
Reverse Bell Curve - The opposite of the Bell Curve, where the revenue is high at the beginning and end but lower during the middle phase.
Once finished, click Apply Spread
The dollar values will be spread accordingly
Once finished, click Save
Revenue forecasting by item (spread method)
Click the Spread button against a specific line item
In the Spread Value pop up, adjust the forecast start/end dates
Select one of the available spreads amongst the following:
Linear - Revenue is spread evenly across the entire project duration.
Front Loaded - A larger portion of the revenue is recognized early in the project, with less revenue spread over the latter part
Back Loaded - A smaller portion of revenue is recognized early on, with the bulk of revenue recognized in the later stages
S Curve - Revenue starts slow, accelerates in the middle, and slows down again toward the end. The curve forms an “S” shape
Reverse S Curve - The reverse of the S Curve, where the bulk of the revenue is recognized at the beginning and end of the project, with a slowdown in the middle.
Bell Curve - Revenue accumulates slowly at the start and end, with most revenue recognized in the middle of the project. This forms a bell-shaped curve
Reverse Bell Curve - The opposite of the Bell Curve, where the revenue is high at the beginning and end but lower during the middle phase.
Once finished, click Apply Spread
The monetary values will be spread accordingly
Once finished, click Save
Revenue forecasting by item (manually)
You can also manually forecast your revenue.
Pick a Forecast Start Date for:
The whole project (in red below) – All line items will share the same start date
A group (in blue below)– All line items within the group will share the same start date.
A line item (in green below)– Only the selected line item will have a unique start date
Similarly, pick a Forecast End Date
Manually enter the monetary values into the cells
If you prefer to enter percentage (%), click the Percentages button. The monetary values will be automatically converted to percentages.
Once finished, click Save
Note: To streamline the process, use the 'Show Rows with Forecast Balance Remaining' filter on the top right corner of the widget to display only the line items that require your attention.