IT Financials Glossary


Posted in Costs by mgentle on August 26, 2010

Forecast: actuals plus estimated remaining costs. The forecast is in essence a revised budget, based on better visibility on what’s really happening and is likely to happen next. The original budget will often have been defined at least six months beforehand, based on assumptions and estimates that almost always have to be adjusted as reality sets in.

A forecast should cover, at the very minimum, the rest of the financial year and, ideally, a rolling 12-month period (called a rolling forecast).


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