CPQ Renewal Opportunity and Forecasting

In order to create Renewal Opportunity which will be used you need to refer to Contract.

Contract object has a field called "SBQQ__RenewalForecast__c" , so whenever you would like to create related Renewal Opportunity for a Contract, you need to set that flag to True and then it takes couple of seconds till Renewal Opportunity would be appeared on Contract in "BQQ__RenewalOpportunity__c" Field.

For example you can set "SBQQ__RenewalForecast__c" 12 months in advance of the expiry of the Contract using time based workflow rule, Then the question would be within the next 12 month there might be some Contract Amendment and then the created Renewal Opportunity would be out of sync with the Contract, but the answer is CPQ is smart enough to update the related Renewal Opportunity automatically if any Amendment happens.

There is one trick to this solution that puzzle me for a while, There is another field on Contract object called "SBQQ__RenewalQuoted__c" till this flag not set that Renewal Opportunity would not have any Renewal Quote and also till there is no Primary Renewal Quote linked to the Renewal Opportunity all Amendment to the Contract would reflect the Renewal Opportunity but if Renewal Quote is there then Contract Amendment would not reflect the Renewal Opportunity

 Probably at some point prior to Contract Expiration you would like to create Renewal Quote also for your Sales team, you might can have another Time Based Workflow Rule to set that 3 months in advance of Contract Expiry or even leave that to Sales team to create it manually.

Hope this help you setting up nice and clean Forecasting in Salesforce