
Oracle Primavera Contract Management, Business Intelligence Publisher Edition v14
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The term forecasting has been used as a method for predicting the future of a project. It looks at current information and then with some input from the project management team as well as some smoke and mirrors, there is a number that represents the "Estimated Cost at Completion" of the project. This is an extremely oversimplified definition of forecasting but you get the point. Every company has its own way to look into the future; from a S.W.A.G. (if you don't know this acronym, ask someone on the project – they will know) to an extremely sophisticated spreadsheet that has all kinds of bells and whistles to help a user understand all the elements. These spreadsheets can be filled with different colors and groupings and buttons, you name it. Most organizations require a forecast be performed once a month. These forecasts many times take up to three weeks to compile as all kinds of information needs to be retrieved, verified, and entered into this fancy spreadsheet. Then it takes...
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