Legacy- Create and promote a forecast plan

task australia Updated Sep 10, 2026 2 min read create-forecast-plan.md

As a portfolio manager, you can re-estimate (forecast) the portfolio budget for future periods based on the actual cost and changed project requirements.

Before you begin

Note: The content in this topic is applicable for customers upgrading from a previous release to Brazil. If you are a new customer, see Scenario Planning for PPM.

Role required: it_portfolio_manager
The Portfolio Planning field for the portfolio must be set to Advanced on the Portfolio form.
The forecast period for the fiscal period must be open to create the forecast plan for a portfolio. For example, the forecast period for FY17: Apr must be open to create a forecast plan in April. The PPS admin can open the forecast period for a fiscal period by navigating to Project Administration > Open/Close Forecast Periods.
The budget period for a fiscal period must be closed to open a forecast period for the corresponding fiscal period. The PPS admin can close the budget period for a fiscal period by navigating to Project Administration > Open/Close Budget Periods.
Only one forecast period can be open at a time.

Procedure

Navigate to portfolio workbench and open the portfolio that you want to track.
Click Promote Forecast Plan under Step 4: Forecasting.

Result

The forecast plan for the portfolio is created and promoted for the selected forecast period. You can re-promote the forecast plan, if required.
A task with the status Pending Approval is created when the portfolio manager promotes the forecast plan. The status of the task is visible in Portfolio Workbench.

What to do next

To view the task for the forecast plan, click the Status link. The finance reviews the portfolio forecast plans in the Planning Workbench and approves the plan.
To view a list of all the promoted forecast plans for the portfolio, click the All Promoted Forecast Plans link under step 4: Forecasting. The promoted forecast plans are listed for all forecast periods.
After the forecast plan is finalized and no further changes are expected, the forecast period must be closed.

Parent Topic:Legacy- Forecast the budget for portfolio

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---
title: Legacy- Create and promote a forecast plan
description: As a portfolio manager, you can re-estimate \(forecast\) the portfolio budget for future periods based on the actual cost and changed project requirements.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/it-business-management/portfolio-management/create-forecast-plan.html
release: australia
product: Portfolio Management
classification: portfolio-management
topic_type: task
last_updated: "2026-09-10"
reading_time_minutes: 2
breadcrumb: [Legacy- Forecast the budget for portfolio, Legacy portfolio workbench, Portfolio Management, Project Portfolio Management, Strategic Portfolio Management]
---

# Legacy- Create and promote a forecast plan

As a portfolio manager, you can re-estimate \(forecast\) the portfolio budget for future periods based on the actual cost and changed project requirements.

## Before you begin

**Note:** The content in this topic is applicable for customers upgrading from a previous release to Brazil. If you are a new customer, see [Scenario Planning for PPM](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/portfolio-planning-overview.md).

- Role required: it\_portfolio\_manager
- The **Portfolio Planning** field for the portfolio must be set to **Advanced** on the [Portfolio form](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/t_CreateAPortfolio.md).
- The [forecast period](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/forecast-period.md) for the fiscal period must be open to create the forecast plan for a portfolio. For example, the forecast period for FY17: Apr must be open to create a forecast plan in April. The PPS admin can open the forecast period for a fiscal period by navigating to **Project Administration** &gt; **Open/Close Forecast Periods**.
- The [budget period](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/create-a-budget-period.md) for a fiscal period must be closed to open a forecast period for the corresponding fiscal period. The PPS admin can close the budget period for a fiscal period by navigating to **Project Administration** &gt; **Open/Close Budget Periods**.
- Only one forecast period can be open at a time.

## Procedure

1. Navigate to portfolio workbench and open the portfolio that you want to track.

2. Click **Promote Forecast Plan** under **Step 4: Forecasting**.

## Result

- The forecast plan for the portfolio is created and promoted for the selected forecast period. You can [re-promote the forecast plan](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/repromote-forecast-plan.md), if required.
- A task with the status **Pending Approval** is created when the portfolio manager promotes the forecast plan. The status of the task is visible in Portfolio Workbench.

## What to do next

- To view the task for the forecast plan, click the **Status** link. The finance reviews the portfolio forecast plans in the [Planning Workbench](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/financial-planning-workbench.md) and approves the plan.
- To view a list of all the promoted forecast plans for the portfolio, click the **All Promoted Forecast Plans** link under step 4: Forecasting. The promoted forecast plans are listed for all forecast periods.
- After the forecast plan is finalized and no further changes are expected, the forecast period must be closed.

**Parent Topic:**[Legacy- Forecast the budget for portfolio](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/forecast-plan-for-portfolio.md)