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Forecast Model for Construction Projects

  1. #1
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    Forecast Model for Construction Projects

    I've created a forecast model for my company's construction projects. The goal is to forecast billings and estimated costs for the next few years by only having to input the start dates and end dates. Our project start and end dates change every month when we get updated schedules, so it's not easy to keep up with without something to calculate it. I set it up to calculate based on a weekly basis and total up the months, but it does not take into account partial weeks and I am not sure how to fix that.


    Please, please, please help!!

    Thank you so much
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    Last edited by dee38; 10-26-2016 at 08:08 AM.

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    Re: Forecast Model for Construction Projects

    I know it's a date issue because my start and end dates are often partial weeks, I'm just not sure how to compensate for it.

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    Re: Forecast Model for Construction Projects

    This solution makes two changes.
    1) Since there is a realization of partial weeks it changes the formula used to calculate column K to read: =(J37-I37)/7
    2) The formula that populates the weekly estimates now reflects that the last week may be a partial payment using the formula:
    Formula: copy to clipboard
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    Note: The above mentioned changes have been applied to the 'S2 - DST-2 Baffle Drop' project billing, rows 36 and 37.
    Let me know if you have any questions.
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    Consider taking the time to add to the reputation of everybody that has taken the time to respond to your query.

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    Re: Forecast Model for Construction Projects

    Thank you so much for your help. I tried it out and noticed something in the formula:

    =IF(M35="YES",MIN($E35-SUM($L36:L36),$E35/$K37),0)

    $L36:L36 - this just references a cell with the text "Billing" in it. Should this be something else?

    Also, I tried to modify this for the Cost section (row 40), and it still calculated with a week variance.

    Thank you again.

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    Re: Forecast Model for Construction Projects

    Yes $L36:L36 is correct. SUM will ignore the text so that it is the same as adding zero to the accumulating sum.
    Try this in row 40 and see if the result will work for you.
    Formula: copy to clipboard
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    I am not a finance person so I don't know if it is acceptable that the remaining costs (or billings) are added at the end.
    Let me know if you have any questions.

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    Re: Forecast Model for Construction Projects

    I tried it out and it did work for 'S2 - Baffle Drop', it didn't work for 'S-1', rows 27 to 34 where that site hasn't started yet. In those rows, it front loaded the entire contract amount and budget amount. Please see attached.

    Thank you again for your help
    Attached Files Attached Files

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    Re: Forecast Model for Construction Projects

    Here is a modification to the formula that will stop the front loading:
    Formula: copy to clipboard
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    I tested for 'S-1', rows 28 and 32, however it should work for any of the projects.
    Let me know if you have any questions.

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    Re: Forecast Model for Construction Projects

    Here's something else you might want to consider. Take a look at the S1 project, to me it seems be a more understandable way to show the relationship between the rows.
    Let me know if you have any questions.
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    Re: Forecast Model for Construction Projects

    This works even better. I have over 70 structures spanning multiple jobs, and if I have a structure that is mostly done, but the balance of work is not even on the schedule yet, all I would need to do is enter start and end dates after 2019 so it still shows before, but doesn't calculate figures in. I tried this out on rows 147-154.

    I can't even begin to explain how much time and aggravation this is going to save me. I have over 70 structures to update every single month with updated schedules, updating the total billed and total costs, and we're bidding more work.

    Thank you so much!!!

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    Re: Forecast Model for Construction Projects

    You're Welcome, thank you for the feedback and for marking the thread as solved. I hope that you have a blessed day.

  11. #11
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    Re: Forecast Model for Construction Projects

    Since you mention that you are bidding more work want to let you know that I also made a change in the formulas for cells M5:M8 (file attached to post#8) that will make it easier to add new projects. You should be able to copy these cells to each month, hope it will be helpful.
    Let me know if you have any questions.

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