OK, so in CMAP, if you navigate from within a Project > Revenue Scheduling using the link in the blue sub navigation bar. We will first have a look at how to Forecast Revenue. You should now see a table like the one below:
The first thing I can see in my table is all of the months which I can Forecast revenue for. These are the active cells which can be typed directly into. If you have any closed months, you may see values (or zeros) but these would be un-editable as the month has been closed and the Revenue has been Recognized - more on this to come...
The months displayed in the tool will be driven by the Start and End dates of the project.
On the right of the tool, I can see the total budget value for my Fees and Additionals and the Phased value will update when I start to enter some values.
The variance column will show me if there is any differences between the budget amount and the scheduled value. You should always try and make sure the variance is 0.00 so you know that you have scheduled all of your revenue.
The cells will probably be blank when you first come into the tool and you can now either start to enter values straight into the cells or you can choose to populate the cells using one of the Auto Forecast options.
Using the Auto Forecast button at the top right, a small pop up window will launch where you can choose how you would like to forecast the revenue for this project and you can choose do this differently for either the Fees, or the Additionals. You can select from the dropdown options how to Forecast and when you click OK, CMAP populates the grid according to your selection.
The Auto Forecast options you can select from are as follows:
- pulls resourcing information from the project's Resource Schedule and spreads the remaining revenue using the hours or days resourced to weight the values month on month
- pulls resourcing information (time multiplied by charge rate) from the project's Resource Schedule and spreads the remaining value using this resourcing information to weight the values month on month
- pulls resourcing information (time multiplied by cost rate) from the project's Resource Schedule and spreads the remaining value using this resourcing information to weight the values month on month
- pulls resourcing information from the project's Resource Schedule and forecasts the future months using the value of the resourcing entered
- applies a flat spread of remaining revenue to the end date of the project.
- uses the values entered into the CMAP invoicing schedule to forecast the revenue based on these.
- nothing will be forecast for the Fees value and any values already there will remain.
- applies a flat spread of remaining Additionals to the end date of the project.
- nothing will be forecast for the Additionals value and any values already there will remain.
Follow on using the link HERE to find out more about the Historic Options