Focus on ForecastingAlw ays looking ba ck at how you did? Look forw a rd instea d!

Lindsay Diven , CPSM a nd Sta cey Ho, CPSM

AgendaWhat is Forecasting?A/E/C Sales Forecast Research ResultsSet Up Your Data for Successful (and Easy) ForecastingForecasting Method ExamplesMaintaining Your ForecastReading the Results and Using Your Forecast + Bonus UsesRemoving Barriers - Get Started Today!Q&A

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WHAT IS FORECASTING

A LITTLE BIT SCIENCE,

AND A LITTLE BIT

CRYSTAL BALL

SURVEY RESULTS

Both33%

Full Estimated Sales Value

16%

Weighted % of Potential Sale

51%

84% of respondents said that they use either just a weighted or a weighted and full value of the pursuit when forecasting.

119Survey Responses*

responses (as of 1-12-2020)82%

of respondents are doing some

form of forecasting

98% of respondents

that are NOT currently forecasting believe that

doing so would be a valuable effort for their firm

TOP things firms found valuable about forecasting1. Team Resource Planning2. Better GO/NO-GO

Decisions3. Ability to Meet Sales

Goals4. Better ROI

The majority of firms are using

DELTEKEXCEL

COSENTIALMS DYNAMICS

SALESFORCEto get their forecast.

# 1 Challenge

when trying to forecast

Lack of correct data (including Inaccurate

sales estimates or dates)

“Our main objectives are to determine success rate, track cost to produce proposals more accurately, identify holes in the pipeline and forecast crazy resource intensive months.”

SETTING UP YOUR DATA

Setting up for success…

PeopleProcessDataTemplate/Tech

EXAMPLE FORECASTING METHODS/TOOLS

Example 1 (Excel) – Starter Kit SpreadsheetSetup the data…

Example 1 (Excel) – Starter Kit SpreadsheetUse pivot tables in excel to estimate your forecast by dates….

Example 1 (Excel) – Starter Kit Spreadsheet

Jan (Acutal) Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecForecast $29,600 $34,600 $44,800 $89,970 $94,970 $137,419 $145,119 $338,879 $339,304 $355,954 $363,754 $418,354Goal $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $250,000 $300,000 $350,000 $375,000 $400,000

Dec Forecast, $418,354

Dec Goal, $400,000

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

2020 Forecast vs Goal

Use charts in excel to help visualize your plan against the goal….

Example 2– Deltek Vantagepoint CRM

Example 2– Deltek Vantagepoint CRM

Example 2– Deltek Vantagepoint CRM

MAINTENANCE

Maintaining the forecast…

ActualizingData AuditingReporting Frequency

Actualizing & Data Auditing

- Mark wins and losses in the status- Update the booking date to the actual date you received the contract- Update the anticipated fee to the actual final negotiated contract amount (or

current estimate)- Change wins to 100% probability if using a weighted or discounted fee

- Update future dates and estimates

- Remove/add opportunities

- Update your % chance of winning

Report frequency

Jan(Acutal) Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Forecast $29,600 $34,600 $44,800 $89,970 $94,970 $137,419 $145,119 $338,879 $339,304 $355,954 $363,754 $418,354Goal $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $250,000 $300,000 $350,000 $375,000 $400,000

Dec Forecast, $418,354

Dec Goal, $400,000

$0$50,000

$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000

2020 Forecast vs Goal

• Monthly updates, quarterly updates

• Remember updates take time so work backwards to meet reporting deadlines.

• When using CRM systems remember to get updates and run audits before running reports

• When using visuals, update the charts to reflect actual vs forecast (instructions included in the template)

RESULTSHOW TO USE YOUR FORECAST

+ BONUS USES

Reading the tea leaves…

Must win projects.

Where is the work coming from?

Better GNG Decisions.

Is there enough work?

Extras There is a lot more you can do with your forecast

Bonus forecasting…. (included in the template)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Grand Total

Land Development $29,600 $0 $10,200 $41,920 $5,000 $36,599 $7,700 $181,260 $425 $16,650 $7,800 $54,600 $391,754

Urban Deign & Planning $5,000 $12,500 $17,500

Environmental $0 $3,150 $3,150

Transportation $3,250 $2,700 $5,950

Grand Total $29,600 $5,000 $10,200 $45,170 $5,000 $42,449 $7,700 $193,760 $425 $16,650 $7,800 $54,600 $418,354

Forecast by Market Area, Business Unit, and more….

Top Pursuits, Top Clients, and more…. Top Projects Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Grand Total

1 Right-of-Way Improvement for Sunset Strip $153,000 $153,000

2 Planning /Civil Eng for the Housing Dept. $36,000 $36,000

3 Sapphire - Change Order #1 - Const. Svcs $35,000 $35,000

4 Dixie Hghwy Signalization Design (WA) $22,500 $22,500

5 CVS Flagler & 22 Ave $20,000 $20,000

6 2 Fire Stations (survey) $17,600 $17,600

7 Wayside Park (survey) $16,650 $16,650

8 Cove Center Project $16,500 $16,500

9 Chapel Trail Elementary School $12,500 $12,500

10 Glades Plaza (survey) $10,200 $10,200

Grand Total $20,000 $10,200 $34,100 $35,000 $188,000 $16,650 $36,000 $339,950

Deltek Vantagepoint – Resource Planning

REMOVING BARRIERS START FORECASTING TODAY!

No Excuses!How to overcome some common barriers to forecasting….- No Time

- No system- No buy in- Don’t know how- Lack of accurate data- Poor sales estimates- Doubt/unfamiliar

with forecasting

Top reasons firm’s say

they do NOT forecast…

NO TIME

NO (CRM )SYSTEM

LACK OF BUY-IN

DON’T KNOW HOW

QUESTIONSAND

ANSWERS

Get Started Kit

Contact UsLindsay Diven, CPSMSenior CRM ConsultantFull Sail Partnersldiven@fullsailpartners.com, 352.339.3628www.fullsailpartners.comwww.marketerstakeflight.com@LindsayDiven – twitterhttps://www.linkedin.com/in/lindsaydiven-deltekvisioncrm/

Stacey Ho, MBA, CPSMMarketing Data AnalystWSP, USAStacey.Ho@WSP.com, 503.417.9360www.wsp.com@scatpdx – twitterhttps://www.linkedin.com/in/staceyhocpsm/

https://www.marketerstakeflight.com/forecasting-presentation-starter-kit/

• Excel template with instructions

• Forecasting Get Started Tips

• Survey Results