Issue/Symptom/Question

How often does a project need to be forecasted?

Applies To

PENTA for Windows

Project Management > Forecast and Completion Information > Forecast Entry

When using forecasted cost in your revenue recognition calculation, you should forecast new projects during the first month the project was awarded
Typically, when a job is first awarded, the forecast cost at complete, at the end of the first money, is the same as the estimate.
For this situation its recommended to use the estimated cost default method to avoid data entry (see below)
For revenue recognition purposes, you will not need to enter/post an additional forecast until the forecast changes. The revenue recognition process will use the previously posted forecast, even though it may be a couple months behind