Schedule Forecast Notes: Definitions & Explanations PDF | Download eBooks
Study Schedule Forecast lecture notes PDF with project management definitions and explanation to study “What is Schedule Forecast?”. Study schedule forecast explanation with project management terms to review project management course for online MBA programs.
Schedule Forecast Definition:
Schedule forecasts are the estimates or predictions of conditions and events in the project's future based on information and knowledge available at the time of the forecast.
A Guide to the Project Management Body of Knowledge by Project Management Institute
Schedule Forecast Notes:
Sometimes, an estimate is made in the schedule of the project based on the past experience or data. These estimates or predictions are called schedule forecasts. Schedule forecasts take into consideration the possibility of any event or condition in the future of the project and update the project schedule accordingly. The schedule forecasts include the performance of the project till that specific time period and the future performance expected of the project on the basis of the corrective actions taken (in the past) and preventive actions recommended (in future). Different information can be used for schedule forecasts. Some examples are schedule reserves (contingency) and earned value performance.
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