Design template for easily calculate forecasting value of any project. This template is excel base, so don’t try to convert into another format like Word, PDF Etc.
Element in Financial Forecasting
We already implement formulas of every little-connected value for getting result. check more project cost performance template for ease of this article.
From milestones to project scope and project summary, scope changes to change due to approved scope changes and risk assessment apply in that template.
Financial Forecast Report
Template Format:- Microsoft Excel (XLSX)
Requirements:- Excel 2007 to 2013, MAC also
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Simple template with no micros and advance excel implement.
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Estimation of work depends on changes in planned value, for example, if work is about to complete in 4-month duration, after changes in planned value.
It must complete in 6 months, so estimation at completion date is required.
Financial Forecasting Report Format
First of all, mention particular project costing, you can also call it (header of template).
Format of Report
Multiple sections by section for final report. You can also change some section according to your requirement.
- Schedule and Cost
- Scope changes
- Changes Due to Approved Scope changes
- Risk Assessment
- Risk and Issues
Schedule and Cost
Different type of values required in that section, some of are I already explain like;
Budget at completion(BAC), earned value(EV), actual cost to date(ACD) ad planned value(PV).
Just insert value in every field in this section.
Some more values relate to milestones with date insert, you can get Auto Variance using that formula.
=IF(AND(C16>0, D16>0), D16-C16,””)
Note: – Do not change any value in Column “E” and “F”
So there is different level of scope from Phase 1 to Phase 5, enter description about every Phase for getting (changes at phase End to Increase or Decrease).
Resources and Issues
First I would like to explain what’s include in “Resources section”?
Total Effort required (Hours), so put some values in according to define boxes.
Number of issues is explaining in different time-laps like (Current Open, Open last week), and then enter increase or decrease issue values with close or past date.
In this section enter those changes, which has been approved by authority and enter the name of those authorities.
When to requested? To when to approved? Date is also submitting in this section.
If rejected particular submission of changes of scope, then also mention here.
In risk, section explains some things like Risk identified, mitigation plan developed, contingency plans developed and cost of mitigation.
Other values like contingency reserve, last reviewed and over risk factor must enter.
Risk and issues status
Just explain the no of issues and risk accordingly
This section for draw any note regarding this financial forecasting report with date.
In addition, do not forget to place signature section by some upper authority or project manager, department level etc.
This article is a part of strategic planning, so read it. For more sample regarding Financial report, just contact us or comment us below.