Learn how to track Forecasted Cost at Completion (EAC) in Excel so you can spot budget drift before it turns into a bigger problem. In this lesson, you’ll see how to compare budgeted cost against projected final cost, summarize results by project manager, and build a simple visual to highlight which jobs are trending over or under budget.
Download the Excel file used in this tutorial:
Before building the summary, make sure your dataset includes the core fields needed for the analysis:
You may also have other useful fields like:
The video emphasizes that clean data structure is what makes this KPI possible.
To begin exploring the data:
This gives you a simple project-level check before building the summary table.
Once the row-level overrun column is created:
This quickly shows every project that is currently projected to finish over budget.
Next, build the summary section by project manager:
This creates the structure for summarizing results by manager.
Set up the main columns in the summary section:
These columns will hold the aggregated totals for each project manager.
Use the SUMIFS function to total the budget for each PM:
This gives you total budgeted cost by manager.
Repeat the same process for projected final cost:
Now you have both planned cost and projected cost summarized by manager.
Create a new column to compare the two totals:
This shows the projected dollar variance for each PM.
To make the comparison easier across managers:
This gives you a normalized view of performance so managers can be compared more fairly.
The video then refines the analysis to focus on current work:
This makes the KPI more useful for current decision-making instead of mixing in completed jobs.
Once the summary table is complete:
This gives you a clean visual of projected over or under budget performance by project manager.
To finish the report:
The result is a simple summary that helps you quickly see which managers are tracking above or below budget on active jobs.
Q1. What is Forecasted Cost at Completion (EAC)?
Forecasted Cost at Completion, or EAC, is a project management KPI that estimates what a job is expected to cost by the time it is finished. It helps HVAC companies and project-based businesses identify cost overruns early, before they become year-end surprises.
Q2. Why is EAC important for project management?
EAC helps project managers and business owners monitor whether jobs are staying on budget as work progresses. Instead of waiting until the project is finished, you can use this KPI to catch small cost overruns early and take corrective action sooner.
Q3. How do I track Forecasted Cost at Completion in Excel step by step?
You can organize your project data by budget, projected final cost, and project manager, then summarize the results to compare where each manager stands. From there, you can create a simple chart to visualize which projects or teams are trending over or under budget.
Q4. Can this KPI be analyzed by project manager or job type?
Yes. One of the biggest advantages of tracking EAC in Excel is that you can break it down by project manager, job type, market, or other categories in your dataset. This gives you a clearer picture of where budget drift is happening and which areas need attention.
Q5. What does it mean when a project is over or under budget?
If a project’s projected final cost is higher than its budget, it is trending over budget. If the projected final cost is lower than the budget, it is trending under budget. This comparison helps teams quickly understand which jobs may be creating margin risk.
Q6. What’s the best way to visualize EAC results in Excel?
A simple bar or column chart works well for comparing EAC percentages across project managers or job categories. This makes it easier to see who is managing projects efficiently and where cost control issues may be developing.