This post is the twelfth in a series of discussions regarding various aspects of time management as it relates to the risk of delay. This post addresses the managerial aspects of forecasting related to time management.
Planning for and implementing (time-related as opposed to cost-related) forecasting is, perhaps, one of the most important aspects of Time Management and, consequently, Managing Risk of Delay. As with progress assessment, timely (early) detection of trends (positive and negative) allows timely managerial action. Timeliness of action has a heavy influence over the effectiveness of Time Management. In project work, it is imperative that one finds problems quickly and fixes these problems rapidly. In order to implement timely action, professional and realistic time forecasting is required.
The challenge associated with managing time is intensified in the case of larger and more complex projects as well as fast-track and high technology projects. [Read more…]