Talk:Forecasting and estimation techniques

Revision as of 17:59, 11 February 2023

Update of "Forecasting and estimation techniques"

Overall a good article with many good points. However, I have some suggestions for improvements. I will here present my intended improvements to be implemented in the article. Please comment this thread if you disagree on some points and explain why, thank you in advance. Each improvement will be marked (DONE) when it has been implemented.

General improvements:

• References, a lot of information lacks annotations and references. This is crucial to the credibility of the article. Adding references would be a comprehensive task that would enhance the article's overall quality and credibility.
• Title: As the focus of the article is Forecasting, it should only state Forecasting. If other estimation techniques should be included, then internal references can be made to eg. Critical path method.
• More information on forecasting in relation to project management. Such as how it can be used for resource planning and budgeting, or how it can help to manage risks and schedule tasks. How is it different from other PM estimation techniques?
• Less focus on demand
• Develop figures that demonstrates the concepts
• Add structure

Abstract

• The very first sentence should briefly describe the term "forecasting". (DONE)
• Statistical methods, is not the right term as qualitative methods are also addressed in the article. This section will be re-written as it is unclear. (DONE)
• The last sentence is very long, it will be re-written. Also, include the PM perspective. (DONE)
• It should be more concise. (DONE)

Forecast approaches

• Title is misleading as it describes characteristic and not approaches. (DONE)
• This section should be "Big Idea" (DONE)

Demand classification

• Add structure and be more concise
• Visualizations to demonstrate concepts
• Does it only apply for demand? Maybe this fits better under quantitative methods. (DONE)

Forecasting classification

• Minor grammar mistakes (DONE)
• Title: classification -> time horizon (DONE)
• Missing references (DONE)

Forecasting methods

• Information on data requirements for each method. (DONE)

Qualitative methods

• Gramma mistake in 1st sentence.
• Bad examples in 1st section. Make sure to mention expert judgement.
• Highly complex? Not all of them.
• Elaborate the methods
• Last section should be moved up

Quantitative methods (MAIN FOCUS WITH UPDATE)

• Very short and unclear.
• Elaborate and demonstrate time series forecasting techniques
• Elaborate state of the art techniques
• Add equations and create visualizations if necessary
• 1st sentence credibility concerns. I am not sure if the sentence is correct in all cases and there is no reference.
• It should not be described specific to demand.

Other... -> Limitations

• Once again, "demand" should be replaced.
• Once again, reference is missing.
• This should go under limitations

Global -> Forecasting process

• Title change to forecasting process (DONE)
• Move section up in the article, this is application (DONE)
• Add references (DONE)
• Separate 5 steps from 7 principles. (DONE)

Problems -> Limitations

• Missing references
• Information on how to adjust forecasts based on unexpected events.
• Title change: problems -> limitations
  • More focus on limitations

Benefits

• There is currently a lot of repetition and it is a very long chapter. Some of the first sections in the chapter could be deleted.
• Wiki articles usually do not have a conclusion section

References

• Briefly summarize the key references

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