A reforecast is the current expectation

A reforecast communicates what you now expect based on updated information; it is not simply a copy of the original budget. Keep the original plan visible so readers can understand what changed. A forecast update is not automatically a request for additional budget or an approval.

Focus on changed drivers, remaining periods, and the reasons the outlook moved. If the local process distinguishes forecast updates from funding decisions, follow that approved process.

Update the outlook with a clear trail

  1. 1

    Start from the current outlook

    Use the latest available forecast and identify the period and categories being updated.

  2. 2

    Update changed assumptions

    Replace only assumptions that have new evidence; retain unchanged assumptions and their rationale.

  3. 3

    Review remaining periods

    Estimate what is still expected for the rest of the period, including timing shifts and known recurring effects.

  4. 4

    Explain the movement

    State the driver, affected period, amount basis, and whether the change is temporary, recurring, or still uncertain.

  5. 5

    Align on interpretation

    Bring material or unclear changes to the appropriate finance partner using the local review route.

Worked example: a moved workshop

Illustrative figures in USD for the fictional Northstar Works team.

A dashboard of charts on a screen

Updated forecast

The original annual travel plan included four workshops at $4,500 each, or $18,000. After one workshop moves from Q2 to Q3, the timing of the outlook changes; if all four still remain expected at the same estimated cost, the annual total stays $18,000.

  • Explain the quarter-to-quarter movement.
  • Keep the annual expectation distinct from the Q2 actual variance.
  • Revisit the estimate if the trip count or cost basis changes.
Printed documents and folders on a desk

Different question: additional budget

If a fifth workshop is added, the expected annual cost becomes $22,500 at the same illustrative $4,500 per workshop. That changes the full-year outlook and may require a separate funding discussion under the organization’s process; it is not merely a timing update.

  • State what changed: one additional planned workshop.
  • Show the arithmetic and the assumption behind it.
  • Ask finance which local route applies to a changed funding need.