WorksheetsProject Controls PC 12 Rev 04
Total questions: 10
Worksheet time: 10mins
In business, Project forecasts often involve the analysis of data, such as the performance history of a particular project.
True
False
The purpose of forecasting is to give managers insight into how profitable projects are likely to be in the ?
Past
Present
Future
All options listed
Three basic types of Forecast are—qualitative techniques, time series analysis / projection, and which other?
Causal
Capsule
Creative
Collaborative
Historical data from time series or correlation information is actual referred to as which Forecasting Method?
PERT
Quantitative
Triangular Distribution
Qualitative
Opinions from experts, decision makers or customers is actually referred to as which forecasting method?
Beta Distribution
Monte Carlo
Qualitative
PERT
Key steps to deliver a sound forecasting process would include?
Define what is to be forecasted
Gathering of Information
Preliminary Analysis
Select / Implement methods
Use forecasts
A time series Forecast is a time-ordered sequence of observations measured at consecutive points in time or over different periods, such as every hour, day, week, month or year.
True
False
Which Process comes first
Creating the Project Budget
Creating the Project Forecast
A forecast is a prediction of future events, using a means other than simply making a blind guess.
A plan, on the other hand, is an articulation of how a company intends to respond to a demand forecast. ... Over time, careful forecasting will lead to more efficient and realistic planning.
True
False
Explicit Judgement & Implicit Judgement can be categorised as ?
Textual & Non Textual Methods
Calculated & Non Calculated Statements
Measured and Unmeasured Assumptions
None of the options listed
