How do we forecast the final project cost?
Incomplete cost-to-complete forecastCombine reliable actual costs with a current estimate of remaining work and commitments. Explain assumptions and uncertainty rather than extrapolating a percentage that ignores changed conditions.
What to do now
- Reconcile actual costs to date
- Review remaining work with owners
- Include commitments and known exposure
- Publish a range with assumptions and decisions
When to escalate
Escalate when
The forecast exceeds the authorized budget or depends on unapproved savings.
Who decides
The budget owner and authorized finance representative
Example
A project adds expected remediation and support-transition effort to its current forecast.
Mistake to avoid
Assuming the original remaining budget equals the cost to finish.
Prevent a repeat
Review remaining cost and commitments, not only money already spent; reconcile with the authorized finance source.
Related cases
- A change request has no budget impact listed. Is zero credible?Incomplete change impact
- Our budget ignores internal staff time. Should we include it?Incomplete cost visibility
- The team marks tasks complete without evidence. What should change?Evidence-free completion
- The deliverable is complete, but the customer will not accept it. What should we check?Completion-acceptance mismatch