Forecasted end date

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Forecasted end date — a project end date, a milestone date, a job completion date which calculated by ProjectsProfiler on the basis of the information about actual progress. The date is computed using the formula taken from Earned Value Management techniques:

if the planned period of activity in business days was equal to T0, then forecasted duration of the period is T and

T = T0* Job volume planned / Job volume completed.

Calculation of the forecasted end date is made for the projects (milestones, jobs) completed more than the completion threshold percentage indicated in the Options window during the ProjectsProfiler setup. Forecasted end date is calculated starting from the report date.

If the planned end date is before the report date the forecasted end date is not calculated.

Let's see the forecasted end date calculation examples with two different ways of calculating efforts:

in hours;
in tasks.

An example of forecasted project end date in hours

Assume that project dates are from July, 1st 2011 till August, 31st 2011.

The number of business days in the period (according to the ProjectsProfiler calendar set up): T0 = 44 days

Report date: August, 1st

Job volume planned in July (i.e. by the report date): 500 hours.

Job volume completed in July (i.e. by the report date): 400 hours.

Let's calculate the forecasted period of time required to complete all planned project jobs:

T = 44 * 500 / 400 = 55 days

Thus, the forecasted project end date is later than planned by (55 – 44) = 11 business days and is on September, 15th 2011.

An example of forecasted project end date in tasks

Assume that project dates are since July, 1st 2011 till August, 31st 2011.

The number of business days in the period (according to the ProjectsProfiler calendar set up): T0 = 44 days

Report date: August, 1st

Job volume planned in July (i.e. by the report date): 50 tasks.

Job volume completed in July (i.e. by the report date): 55 tasks.

Let's calculate the forecasted period of time required to complete all planned project jobs:

T = 44 * 50 / 55 = 40 days

In this way, the forecasted project end date is earlier than planned by (40 – 44) = - 4 business days and is on August, 25th 2011.