Create uncommitted line items for potential changes, scope, work elements, risks, anything!
Create uncommitted line items for potential changes, scope, work elements, risks, anything!
Ensure accurate Final Forecast Cost / Estimate At Completion by using Mastt's Forecast & Uncommitted features:
Learn more about Forecast & Uncommitted in Mastt below. 👇
Forecasts or Uncommitted amounts are line items, scope, risks or anything - that has been allocated or identified as a cost to your budget, but has not yet been approved under a contract, purchase or expense. Listing Forecast & Uncommitted amounts against budgets is key to reporting an accurate Final Forecast Cost / Estimate At Completion.
Final Forecast Cost / Estimate At Completion = Actual Cost to Date + Remaining Committed Amounts + Forecast & Uncommitted
For thoroughness, note that:
Estimate to Complete (ETC) = Remaining Committed Amounts + Forecast & Uncommitted
Common challenges we see in managing forecast and uncommitted costs:
❌ Incomplete Cost Tracking: Failing to account for unapproved scope or future costs can lead to unexpected budget overruns.
❌ Fragmented Data: Collecting and consolidating uncommitted amounts into financial registers can be time-consuming and complex.
❌ No Risk Allowance: Realised or known risks need allowance. Failing to incorporate risks as uncommitted amounts will lead to budget overruns.
❌ Forecast Accuracy: Ensuring the accuracy of final forecast costs without comprehensive tracking can be challenging without detailed lists.
❌ Real-Time Updates: Keeping track of changes and updates to forecasted and uncommitted costs in real-time can be complex.
Mastt’s simple, easy to use tools make cost tracking easy:
🔷 Add Forecasts: Add line items to your cost tracker or budget for uncommitted amounts, risks or contingencies.
🔷 Connect to Risk Module: Turn 'on' risks to show up in the Mastt cost module as forecast type 'risk'.
🔷 Link Budgets: Connect forecast and uncommitted items to budgets.
🔷 Charts and Visualizations: Utilize built-in charts, tables, and visualizations to analyze forecasted and uncommitted costs.
🔷 Auto Reporting: Automatically generate charts, tables and visualizations for reports and dashboards from Mastt's extensive library of charts, tables and visualizations.
🟢 Track Thoroughly: Monitor all unapproved scope and future costs to ensure comprehensive financial planning.
🟢 Monitor Contracts: Close out forecasts and uncommitted amounts as work is committed under contract.
🟢 Real-Time Monitoring: Regularly update and monitor forecasted and uncommitted costs to reflect current project conditions.
🟢 Maintain Records: Keep detailed records of all forecasted and uncommitted costs for future reference and compliance.
Are you a Mastt user? For detailed information about this feature, please visit this Help Page article. You can also explore more articles at help.mastt.com.
Customizable templates for managing project schedules with standardized phases, activities, and milestones for consistent delivery.
Learn more
Simplify Gantt charts and efficiently track schedule activities with Mastt, using intuitive visualizations and automated reporting to maintain clear project progress.
Learn more.png)
Break down activities into specific tasks and track their completion using a simple checklist format, ensuring all steps are accounted for within the project schedule.
Learn more.png)
Quickly import Primavera P6 schedules into Mastt, ensuring smooth integration, live progress tracking, automated reporting, and enhanced team coordination.
Learn more.png)
Effortlessly import Microsoft Project schedules into Mastt for seamless integration, real-time tracking, automated reporting, and improved team collaboration.
Learn more
Andrew Benn, WSP Technical Director
"With Mastt, our client can see the status of the project anytime, reducing back and forth queries, and not having to wait until the end of the month to receive a monthly report."
Read Case Study
Rebecca White, RPS Program Manager
"Mastt has saved our team significant time and effort in managing the financials elements of 65+projects. The team now has total visibility over their individual projects as well as the overarching program of works."
Read Case Study
Erik Maasepp, Capital Insight Senior Project Manager
"Mastt takes away a lot of user error that spreadsheets bring. With Mastt, we are able to combine multiple projects into programs or portfolios for management level analysis and direction."
Read Case Study
CAPT. Dan Foley, Army Digital Transformation Manager
"Mastt is increasing the team’s tempo and productivity by enabling real time information across our portfolio of projects. This transparency is assisting us to make informed decisions, to identify opportunities and reduce the risk."
Read Case Study
Dan Atkins, Jacobs National Program Manager
"Mastt's ability to record critical financial information as well as program forecasted delivery and milestones put Jacobs in a favourable position to our clients."
Read Case Study.webp)
Mohammed Salameh, Compass' Associate Director
"Moving to Mastt is one of the best decisions my team has ever made. It’s cost-effective, easy to use, and a quick set up."
Read Case Study.webp)
Fergus Bruce, Project Manager at WSP
"A key factor in our decision to adopt Mastt is its user-friendliness. It had to continue to empower us to work smart, allowing us to consistently deliver excellence across multiple sectors and geographic regions."
Read Case Study
