The Keys to Forecasting- #5 Timing

摘要

In identifying and developing the keys to forecasting, timing becomes critical for three reasons. Primarily forecasts must be issued on a consistent and timely basis determined by the decision makers on the project and/or stakeholders, to meet their informational requirements. Second, the forecast must be current, consisting of fresh data that provides actionable information allowing for proactive use of the forecast to identify issues and determine mitigating, corrective or improvement strategies. Finally, superb timing is required to properly sequence the data collection, compilation, evaluation and approval process to protect against the last minute scurry of activity often associated with estimate preparation and forecast reporting. To properly forecast project cost requires great planning, excellent timing, and success results by starting with the end in mind.