Schedule forecasting is a part of project management that involves guessing where a project’s schedule will be in the future based on how things are going now and what has happened in the past. It is the process of using different analytical techniques to estimate how long tasks will take and when the whole project will be done.
Using schedule forecasting, project managers can plan ahead for possible delays or roadblocks and take steps to lessen their effects. It also helps them figure out if the project is on track and make smart choices about how to use resources, manage costs, and reduce risks.
Most of the time, project managers use tools like critical path analysis, resource leveling, and Earned Value Management to make schedule predictions (EVM). These methods help project managers find possible changes to the schedule and fix them so that the project is finished on time and on budget.
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Usage
It is used in Schedule Management, Risks Management, and Monitoring and Control
