Cost Forecasting

Cost forecasting is the process of estimating future expenses for a project, business, or activity. It involves analyzing historical data, trends, and other relevant factors to predict how much money will be needed in the future. This helps organizations budget effectively, allocate resources, and make informed financial decisions. Accurate cost forecasting is crucial for avoiding overspending, ensuring profitability, and planning for unexpected costs. By anticipating expenses, businesses can better manage their finances and achieve their goals.