After a budget has been added to Rabbet during project creation, utilize the Projection tool to forecast the timing of the costs. This tool provides a mechanism for setting spending parameters that simplify the projection process and provide clear cost visualizations.
Create a Projection
Navigate to the Projection tab within the project.
If the 'Expected Construction Start Date' and 'Expected Project Length (mo)' fields have not been completed in the 'Project Details' section on the Project Settings tab, then the projections tool will not function.
Select the projection 'Curve Type', 'Start Month', and 'Duration'. These selections can be made at either the division or line item level.
Click 'Save' at the top of the table. The projected costs by month for each budgeted line item amount will then populate on the table.
The saved projection will also render a visual progress graph.
Configure and Download Projection Data
Toggle the 'Original Projection' and 'Actuals + Updated Projection' columns in the table ON/OFF using the checkboxes at the top of the table.
Toggle the various graph lines ON/OFF by clicking on the line names at the top of the graph.
Click 'Excel' to download a .xlsx file of the projection values.
Click 'Graph' to download a JPEG file of the projection graph.
Actual Costs and Updated Projections
As draws are created in Rabbet, a new line will appear on the graph. This new 'Projection' line is calculated using the actual costs outlined in the draws.
This updated projection contemplates the actual costs to date and the balance remaining in that line item budget. Therefore, if the 'actuals' in a given month exceed the 'original projection', then the updated projection for the remaining months will be less than the 'original projection'.
Click 'Update Projection' to create a new 'original projection'
Taking this action will swap the 'updated projection' figures with the deleted 'original projection' figures. In other words, the 'actuals' become part of the projection for past months and the future months are projected based on the balance remaining and projection parameters.
How Budget Changes Affect Projections
There are several forms of budget changes in Rabbet:
All of these will affect the projection that you have created. Whenever one of these changes occurs in the application, you will encounter a warning.
Just like when actual cost are incurred in a draw, a new set of updated projections will appear in the table on the Projection tab after the budget change has been made.
Click 'Update Projection' to delete the existing 'Original Projection' figures and swap in the updated projection amounts that include the budget changes.
Note that adding a new line item will require you to make the 'Curve Type', 'Start Month', and 'Duration' selections for that new line.
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