Schedule Forecasts are estimates or predictions of conditions and events in the project’s future based on information and knowledge available at the time the schedule is calculated.
They support proactive decision-making by projecting future milestones, identifying potential delays, and estimating the time needed to complete remaining work using actual performance data.
Key Characteristics
- Predictive in Nature – Based on current progress and trends
- Supports Schedule Control – Enables early detection of deviations
- Dynamic and Updated Regularly – Refined as project data evolves
- Tied to Earned Value and Performance Metrics – Often expressed as Estimate to Complete (ETC) or Estimate at Completion (EAC) for time
Example Scenarios
- Forecasting project completion based on current task slippage
- Using SPI (Schedule Performance Index) to estimate new milestone dates
- Updating schedule forecasts weekly based on reported progress
Example of Schedule Forecasting
flowchart TD A[Current Schedule Data] B[Work Performance Information] C[Forecasting Techniques] D[Schedule Forecasts] E[Revised Completion Dates] F[Stakeholder Updates] G[Corrective Actions] A --> C B --> C C --> D D --> E D --> F D --> G
Role in Project Time Management
- Improves Responsiveness – Allows teams to adapt to potential delays
- Strengthens Stakeholder Communication – Offers forward-looking insights
- Supports Integrated Control – Aligns with scope and cost forecasts
- Drives Corrective Actions – Informs the need for schedule recovery strategies
See also: Schedule Performance Index (SPI), Estimate to Complete (ETC), Estimate at Completion (EAC), Work Performance Information, Schedule Management Plan.