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Set Up a New Forecasting View

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Objective

To set up a new forecasting view for use in the Forecasting tab of the project's Budget tool. 

Background

The project's Budget tool provides your team with the ability to create and edit forecasting views. The 'Procore Standard Forecast' view contains the same columns as the 'Procore Standard Budget' view. However, it also includes columns that let you select a Start Date, End Date, and Curve from a drop-down list. This allows you to transform your data into a forecasting view that automatically spreads the line item's amounts across Month columns for any timeline that you specify. 

Things to Consider

  • Required User Permissions:
    • 'Admin' level permissions on the Company level Admin tool.
  • Additional Information:

Steps

  1. Navigate to the company's Admin tool. 
  2. Under Tool Settings, click Budget. 
  3. Click the Forecasting tab.
  4. Click Set Up a New Forecast View.

    setup-new-forecast-view-button.png

    This opens the Set Up New Forecast View window.
  5. Continue with the following steps in the recommended order:
    1. Set Up a New Forecasting  View
    2. Name a Forecasting View
    3. Configure the Columns for a Forecasting View
    4. Choose the Column to Spread
    5. Preview a Forecasting View
    6. Assign a Forecasting View to Projects

Set Up a New Forecasting View

 Note
Procore provides new customers with a Procore Standard Forecast view that contain different columns. See About the Procore Standard Forecast View. This example shows you how to use the Procore Standard Forecast view as your starting point for customizing a budget view to fit your specific business need. 
  1. In the Set Up New Forecast View window, under Standard Views, highlight the following view:
    setup-new-forecast-window.png
    • Procore Standard Forecast
      This is the default view for the Budget tool on all Procore projects. Your new view will inherit all of these columns and you can add or remove columns later: Division, Projected  Over/Under, Category, Original Budget Amount Budget Modifications, Project, Sub Job, Approved COs, Direct Costs, Cost Code, Revised Budget, Projected Budget, Committed Costs, Pending Cost Changes, Projected Costs, Forecast to Complete, Estimated Cost at Completion, and Pending Budget Changes. 
       Note
      After you create a new budget view, it will appear with the name and description you give to it in the My Views area of the Set Up New Budget View window. The views are also available to use as a starting point when you create new budget views. 
  2. Click Create. 
  3. Continue with the next step.

Name a Forecasting View

  1. Name the budget view as follows:
    • View Name. Type a name for the new view. 
    • View Description. Type a description for the new view. 
       Note
      You can assign the budget view to one (1) or more projects now using the checkboxes in the Assign to Projects drop-down list. You can also wait to assign it after you have configured the columns. In this tutorial, we will assign it to a project after the column configuration is complete. 
  2. Continue with the next step. 

Configure the Columns for a Forecasting View

You have several options when configuring the columns that appear in your forecasting view. These options are described below. 

Show and Hide Columns

There are three types of columns available for use in forecast views: Standard, Calculated, and Source. 

  1. In the new forecasting view's window, click Configure Columns. 
    This opens the Configure Columns window. 
  2. Under Standard, Calculated, and Source, you have these options:
    • To show a column in the forecast view, place a checkmark in a box to include the column in the forecast view's display. 
    • To hide a column from the forecast view, remove the checkmark from a box to exclude the column from displaying in the forecast view. 
  3. Choose from these options:
    • To save your changes and quit configuring columns, click close (x) in the top-right corner of the Configure Columns window. 
      OR
    • To continue configuring columns, continue with the sections below. 

Create a Calculated Column

A calculated column lets you use two (2) or more columns lets you choose a value format (for example, Currency, Number or Percent). It also lets you write simple expressions to perform operations using two or more values from the available data columns. The operations you can perform are to add (+), subtract (-), multiply (*), or divide (/).

  1. Choose one of these options:
    • Click + Create Calculated Column.
      OR
    • Click Create in the top-right and choose Calculated. 
  2. Under New Column Name, do the following:
    • Column Name. Enter a name for your new calculated column.
    • Format. Choose a format for your new calculated column's result. Your choices include:
      • Currency. Formats the new column's value so it shows two decimal points of numbers in a column. For example: $2,400,999.00
      • Number. Formats the new column's value as a whole number. For example: 2,400,000
      • Percent. Formats the new column's value as a percentage. For example: 240,000,000.00%
  3. In the first Pick a Column list, select one of the available columns. 
  4. In the operations list, choose the operator that you want to apply: 
     Note
    Calculations always follow the mathematical order of operations, which is to multiple and divide before it will add or subtract. 
    • Add (+)
    • Subtract (-)
    • Multiply (*)
    • Divide (/)
  5. Select the second column in the calculation from the next Pick a Column list. 
  6. Continue adding operators and columns until your calculation is complete. 
  7. Click Create to save the new calculated column.
     Note
    • The new calculation appears at the bottom of the Calculated list on the left.
    • The new column is highlighted and a checkmark appears in its box so it is shown by default in your view. You can turn it ON/OFF as needed.
    • The new column will appear on the far-right of the view in the project's Budget tool.

Create a Source Column

A source column pulls its values directly from a data column in one of Procore's project tools. You also have a variety of source options. Most source options also provide you with the ability to choose advanced settings for filtering and refine the data in your forecast view. 

  1. Choose one of these options:
    • Click + Create Calculated Column.
      OR
    • Click Create in the top-right and choose Source. 
  2. Under New Column Name, do the following:
    1. Column Name. Enter a name for your new source column.
    2. Column Source. Choose the source column that you want to use. Your choices include:
      • Prime. This option sources its data from the Prime Contracts tool. You have these options:
        • Prime Contract. Place a checkmark in this box to include the Prime Contract amount in the forecast view. 
        • Change Orders. Place a checkmark in this box to include Prime Contract Change Orders (PCCOs) in the forecast view. You can also place a checkmark in the following boxes to apply these filters:
          • Status. To filter the data in the column to include only PCCOs that match the selected status(es), place a checkmark in one or more boxes. To learn about each status, see Create a Prime Contract Change Order.
          • Scope. To filter the column data by scope of the change order, place a checkmark in the TBD, In Scope, Out of Scope, or No Scope Associated box. To learn more about scopes, see Create a Prime Contract Change Order.
      • Prime Unit Qty. This option sources its data from the Unit Qty in change orders. You have these options:
        •  Prime Contract Change Orders (PCCOs) Unit Quantity. Place a checkmark in this box to include the Unit Qty from PCCOs in the forecast view. You can also place a checkmark in the following fields to apply these filters:
          • Status. To filter the data in the column to include only PCCOs that match the selected status(es), place a checkmark in one or more boxes. To learn about each status, see Create a Prime Contract Change Order.
          • Scope. To filter the column data by scope of the PCCO, place a checkmark in one or more boxes. You have these options:
            • TBD. This value is set on PCCOs with the Change Events tool. 
            • In Scope. This value is set of PCCOs with the Change Events tool. 
            • Out of Scope. This value is set on PCCOs with the Change Events tool. 
            • No Scope Associated. Place a checkmark in this box when one of the following conditions is true:
              • The Change Events tool is disabled on your project(s).  
                OR
              • The Change Events tool is enabled on your project(s), but your project's change order line items are NOT associated with a change event line item. 
        • Potential Change Orders Unit Quantity. Place a checkmark in this box to include the Unit Qty from Prime PCOs in the forecast view. You can also place a checkmark in the following fields to apply these filters:
           Note
          In Procore, Potential Change Orders are only used when the Prime Contracts tool is configured to use a 2- or 3-tier change order structure. To learn more, see What are the different change order tiers in Project Financials? and Configure the Number of Prime Contract Change Order Tiers.
          • Status. To filter the data in the column to include only PCCOs that match the selected status(es), place a checkmark in one or more boxes. To learn about each status, see Create a Prime Contract Change Order.
          • Scope. To filter the column data by scope of the change order, place a checkmark in the TBD, In Scope, Out of Scope, or No Scope Associated box. To learn more about scopes, see Create a Prime Contract Change Order.
      • Commitment
        • By default, Change Orders show the value from the lowest tier.
        • The 'No Scope Associated' filter should be used for either:
          • Projects using the Change Events tool with a change order line item that is not associated with a change event line item.
            OR
          • Projects where the Change Events tool is disabled.
        • The 'Scope' options for Change Orders are sourced from the Change Events tool.
        • Place a checkmark in the Subcontracts, Purchase Order Contracts, or Change Orders boxes to pull the column's data from the project's Commitments tool. Then select the desired filters.
          Notes:
      • Direct Costs
        Place a checkmark in the Direct Cost box to pull the column's data from the project's Direct Cost tool.
      • Owner Invoice
        Place a checkmark in the Owner Invoice box to pull the column's data from the most recent Owner Invoice from a prime contract. You can select a 'Net' source which are the values from the 'Total Completed and Stored to Date - Currently Withheld Retainage' and the values for the 'Gross' source which are the values for the 'Total Completed and Stored to Date.'
      • ERP Job Costs
        Place a mark in the ERP Job to Date Costs or ERP Commitment Invoiced checkboxes.
        Notes:
        • If your company has enabled the ERP Integrations tool, you may apply these options to your forecasting view.
        • If the view is assigned to a project that is not ERP integrated, these columns will be blank when viewing the forecasting view in the Budget tool. 
      • Subcontractor Invoices
        Place a mark in the Subcontractor Invoices checkboxes. You can select a 'Net' source which are the values from the 'Total Completed and Stored to Date - Currently Withheld Retainage' and the values for the 'Gross' source which are the values for the 'Total Completed and Stored to Date.'
  3. Click Create to save the new source column.

Edit a Column

  1. In the Configure Columns window, click the Standard, Calculated, or Source column that you want to edit. 
  2. When the column details appear, click Edit. 
  3. Depending on the column type, you can update the details as needed:
    • Standard Columns. You can change the column name. 
    • Calculated Columns. You can change the column name, format and calculations.
    • Source Columns. You can change the column name, column source and other advanced options as available for the selection. 
  4. Choose from these options:
    • To update the existing column, click Update.
      OR
    • To keep the existing column and save your changes as a new column, click Save as New. 

Delete a Column

You can delete any columns that you want to permanently remove from a forecasting view. However, if you simply don't want a column to show, it is recommended that you hide the column as described in Show and Hide Columns. 

  1. In the Configure Columns window, highlight the Standard, Calculated, or Source column that you want to remove. 
     Note
    A column cannot be deleted if it is used in another column's calculation. A warning message appears to inform you of any conditions that exist that would prevent you from deleting a column. 
  2. Click Delete. 
  3. In the confirmation message that appears, click Delete Column.

Complete the Column Configuration

The Column Configuration window automatically saves the show/hide setting and any arrangement that you set for the Standard, Calculated, and Source columns. When you are ready to close out of the column configuration window, simply click the close (x) symbol in top-right corner. 

Choose the Column to Spread

In the Forecasting Column to Spread drop-down list, select which calculated column's value to spread out over the months you have assigned to each budget line item.  By default it is the 'Projected Cost to Complete' column. However you can choose any calculated column from the list. 

Preview a Forecast View

After closing the Configure Columns window, the system returns you to the new forecast view's window. Under Column Configuration, you can get an idea of how your view will look in Procore by selecting a project from the Preview with Project drop-down list. 

Assign a Forecasting View to Projects

After previewing your budget view and determining that it suits your business needs, you can assign it one or more Procore projects. 

    Click the Assign to Projects drop-down list.
  2. Place a checkmark in the box next to one or more of the following options:
    1. All Projects Selected. This assigns the new budget view all of your Procore projects. 
    2. All Projects Using ERP Direct Costs. This assigns the new budget view to projects using the ERP Direct Costs budget view. 
    3. All Projects Using Procore Direct Costs. This assigns the new budget view to projects using the project level Direct Costs tool. 
    4. [Individual Projects]. This assigns the new budget view to only the project(s) that you select. 
  3. Click Done.