Forest snapped up Ward soon after he was released by Derby County, and they have thrown him straight into their starting line-up.
The winger has a vast amount of experience at Championship level, and Goodman believes that he could be one of the bargains of the summer, providing Forest can keep him off the treatment table.
"Jamie Ward is one of those free transfers who could turn out to be a magical piece of business," he said. "Forest will need to keep him fit, as he has a tendency to pull his hamstring, but he is rapid and he causes opposition teams a lot of problems when he is on his game."
Ward has made an encouraging start to life at Forest, with his tireless energy impressing and allowing him to slot fit into Dougie Freedman's preferred system.
Freedman demands that his wide-men do their fair share of defending, and Ward has the stamina required perform this function.
So far the 29-year-old has made eight appearances, with the most recent coming in Thursday night's 1-1 draw with Huddersfield Town.
If there is one area Ward will be eager to improve, it is his goalscoring, as he hasn't managed to hit the back of the net for the Reds since arriving at the City Ground.