Schedule forecasts
“Schedule Forecasts” is an input for the process “Monitor and Control Project Work “.
The schedule forecasts are derived from progress against the schedule baseline and computed time estimate to complete (ETC). This is typically expressed in terms of schedule variance (SV) and schedule performance index (SPI). For projects not using earned value management, variances against the planned finish dates and forecasted finish dates are provided.
The forecast may be used to determine if the project is still within defined tolerance ranges and identify any necessary change requests.
“Schedule Forecasts” is an output for the process “Control Schedule”.
Schedule forecasts are estimates or predictions of conditions and events in the project?s future based on information and knowledge available at the time of the forecast. Forecasts are updated and reissued based on work performance information provided as the project is executed. The information is based on the project?s past performance and expected future performance, and includes earned value performance indicators that could impact the project in the future.
This definition was found in the PMBOK V5
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