Proper Integrated Project Schedule update and forecast are essential activities to maintain a schedule that can effectively be used for reference and decision-making. In our new White Paper 2016-04 ‘3 Steps and 7 Principles for Proper Forecast of Integrated Project Schedules’ we cover the schedule forecast of future activities.

The three steps of reforecasting are:

1. Based on the actual progress of the currently ongoing activities, determine their expected re-forecast completion time,
2. Observe how the Project activity network evolves naturally as a consequence of the re-forecasting of the ongoing activities, and whether issues need to be tackled with regard to certain requirements,
3. Reforecast future activities’ duration and effort (activities that are not yet started) based on the new knowledge available.

Seven principles that need to be observed during reforecasting include:

1. A Good Forecast Relies on an Accurate Update
2. Do Not Forecast Bottom-Up
3. Forecasting Is Not a High Level Exercise Either
4. Focus on Critical Path Activities and Critical Resources
5. Work/Budget Owners need to be committed
6. Implement information assurance processes
7. Do Not Forget to Reforecast Non-Started Future Activities

Schedule reforecasting is difficult because it takes a good understanding of the business. Yet Project teams do not spend enough time supporting their planning teams in that task.

Discover more about schedule forecasts in our new White Paper 2016-04 ‘3 Steps and 7 Principles for Proper Forecast of Integrated Project Schedules’