This tool helps you estimate your labour costs against your running labour costs for each Cost Centre.
To access the Forecast Tool, do the following steps:
- There are two (2) ways on how to access it:
- From the project page, click View on the Forecast Tool.
- From your navigation bar, go to Management > Reports > Forecast Report > Forecast Report. Or type in 'Forecast Report' on the search bar located in the upper right corner of your portal.
2. Choose a project.
Note: This field is only visible outside projects.
3. Click Labour tab.
4. Click View by Cost Centres. (To learn about the default View by Employee, click here.)
5. The Cost Rate (Rate per hour) main row is empty because each employee has different Cost Rate on each Cost Centre.
6. Click View Cost Centre Details to view the employees that have rendered hours under that Cost Centre.
All employees of the corresponding project will be displayed here.
7. Input your estimated total hours for each employee on the Estimated Total Hours column. The Total for each cost centre is displayed on the main row while the general total is displayed on the Total row. Clicking on the Estimated Total Hours amount will display its corresponding computation.
8. The Estimated Total Cost column displays the estimated costs for each employee per cost centre depending on the Estimated Total Hours and the (Cost Rate Rate per hour). The total cost of each cost centre is displayed on the main row while the general total is displayed on the Total row. Clicking on the Estimated Total Cost amount will display its corresponding computation.
9. The Current Hours column displays the timesheet submissions per cost centre or per employee.
10. Click on Current Hours to display the Current Hours Breakdown of the corresponding cost centre or employees under the cost centre.
10. The Current Costs column displays the current costs of each cost centre and the employee under it. The Total per cost centre is displayed on the main row while the general total is displayed on the Total row. Clicking on a Current Cost amount will display its computation.
11. The TOTAL row displays the sum of your Estimated Total Hours, Estimated Total Cost, Current Hours, and Current Cost.