The original budget changes as the job progresses. Reforecasting shows the real expected outcome.
In this article
Actual costs
Up to date.
Remaining work
Estimate honestly.
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Changes
Approved and pending.
Risks
Known problems.
Share early
Bad news early.
Common mistakes
Optimistic guesses, ignoring pending changes and late updates.
Run tighter jobs and win the right ones.
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Frequently asked questions
How often should project budgets be reforecast?
Monthly is common, or whenever major changes happen.