Projected Cost Update

The Projected Cost Update screen updates the projected hours and the last projected date to the phase file and the last projected date to the job files. Do not continue until you have carefully previewed the Projected Cost Report. Once it is accurate, click Continue to update the report.

If the Update projected contract quantities automatically checkbox is selected for the phase in the Job Phases > Properties window, then the projected quantity and revenue will be updated in the contract file based on the phase's billing item.

During the Projected Cost Update, if a job is selected for an updated batch while that job is in use by another operator in Projected Cost Entry, the specified job will not be updated at that time. Instead, the job will remain built and will be available for update after the current entry is complete.

In the Projected Cost Entry (by Phase summary) screen, the Projected complete date updates after running the Projected Cost Update.

Note: The Projected Cost Update will only update the contract if your batch's period end date is later than the most recent projected date in the projected cost history table. Otherwise, the software interprets these projections as older, and will not override your current projections.The software determines whether the projected hours or cost were derived from the Hour or Cost method, and posts this method to the phase file when this update is run.