Contract Forecasting with PCI Projections (Classic)

Contract Forecast with PCI Projections; standard Treeview path: CMiC Field > Budget & Cost Management > Contract Forecasting

The primary purpose of contract forecasting is to ensure that all potential financial issues in a project are dealt with as soon as identified and acted upon in a timely manner to keep the project on a profitable course. Forecasting allows prediction of over/under funding based on productivity, unit, or simple amount-based analysis for the costs incurred or expected, compared to the budgeted values for the project.

The Contract Forecasting with PCI Projections screen is governed by the standard CMiC rules in the Job Costing Control File, which may restrict updating of forecasts to the defined year/period (standard Treeview path: Job Costing > Setup > Local Tables > Control File – Forecasting tab). The Contract Forecast with PCI Projections screen may also include risk management amounts (entered via the PCI Projection screen) as well.

The PCI Projection screen can be accessed by drilling down on PCI amounts on a phase/category (bill code) line in the forecast. This also includes a risk analysis section.  Further drill-down in the PCI projection will take users to the Potential Change Items (PCIs) assigned to the selected job/phase/category combination of the forecast line.

NOTE: CMiC Field’s Contract Forecast with PCI Projections screen requires that there is a one-to-one mapping of cost codes (phase codes) to bill codes to function properly. An error message will be issued if one-to-one mapping is not set up for the contract.