Contract Forecast with PCI Projections in CMiC Field – R12 (Classic)

NOTE: A new interface for Contract Forecasting is available on Patch 17. For details, refer to Contract Forecasting Has a New Look!

Forecasting Options

The following forecasting options are currently available:

  • Contract Forecasting with PCI Projections in CMiC Field

  • Contract Forecasting (ETC - Estimate To Complete) in ADF version of Job Costing module

CMiC recommends that if a particular option is used in forecasting a job, then the same job should not be analyzed in other forecasting screens.

This guide focusses on the Contract Forecasting with PCI Projections screen in CMiC Field.

NOTE: There are no standard reports for contract forecasting and users need to plan on creating required reports as part of implementation of JSP forecasting. CMiC Support may be contacted for any such requirements.

Recommended Best Practices

Contract forecasting in CMiC Field must be considered as an ongoing continuous process and must be performed monthly as opposed to quarterly or irregular frequencies.

The forecasting process has a functionality to copy the last stored forecast to the current period and when this option is used in a quarterly forecasting scenario, clearing user overrides may take them back to values of forecasting not close enough to the current state of the contract.

Copying the last stored forecast is a commonly used practice in the industry.

The archive function allows storing a snapshot of the contract forecast as of the system date and may be performed regularly, to facilitate comparison of contract forecasting in a specific period with archived data.

Terminology

In the construction sphere, the term “change order” is generally referring to an “owner change order”.

Whereas contract forecasting in CMiC Field predominantly deals with Potential Change Items (PCIs) and projections of the same. The term “change order” in this guide refers to Potential Change Item or simply “PCI”. The use of the term “change order” may be necessary in cases where the program name reads so on the screens.

If any reference is to be made to owner change orders, then they will be explicitly pre-fixed with the term “owner”.