Private Estimates

This article is a guide on how to manage internal estimates within FastDraft. Although it has been deployed to all our instances, it is currently only available on request. Please liaise with your account manager or our support team.

This guide contains the following:

• Overview
• Why use internal estimates
• Key Features
• How to use
• Important notes
• Coming soon

Overview

Internal Estimates allow project teams to assign private financial forecasts to contract events, supporting proactive cost management. These values are visible only to your organisation and are not shared with suppliers.

Why use internal estimates

• The forecasting cost impact can be calculated before supplier quotations
• The ability to track potential overspend early
• Helps facilitate supporting internal budget management

Key Features

• Add cost and time estimates to contract events
• Can be applied against a Compensation Event - early warnings and instructions will be available in the future. 
• Tracking how estimates change over time
• Maintain internal-only visibility

How to use

To add an internal estimate click into the relevant communicated notice (currently a compensation event)

• If a new estimate is created, this will automatically supersede the current estimate. 

Important notes

• Estimates are private to your organisation and currently only for the PM/Service manager
• There can only be one active estimate
• Previous estimates are retained for audit purposes

Coming soon

• Dashboards and reporting
• Budget tracking integration
• Cost breakdown capability (e.g. schedule of rates)