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For a professional services organization, the most important forecast to get right is effort. Improving forecasts improves utilization, project revenue, cost, and profit. This report allows you to measure and improve your forecasts. For example, back in the first week of December I predicted 1000 hours of work for February. How well did I predict February's workload that week? How about the next week? And the next? Hopefully I'm seeing that as February drew closer, my accuracy was increasing. If I know that I can fairly accurately predict 95% of my upcoming workload, then I also know that I can fairly accurately predict the revenue for that month too. In the screenshot below you can see forecast accuracy increasing as the delivery month approaches. You can also see how the ERP team faired against the CRM team.
Speaking of revenue, how come the forecast report doesn't take revenue into account? The answer is that revenue is a lot harder to track because how you measure it depends on how you run your organization. Do you deliver T&M or FP projects? Perhaps a mix? |
Permissions and Settings
To run this report type you must have the cost center permission Run Forecast Accuracy Report.
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There are no pre-built reports of this type.