Talk:Forecasting

Revision as of 08:17, 9 May 2023

Focus of Forecasting and estimation techniques revision

The focus of the revision is to make the Forecasting article more relevant to project-, program-, and portfolio managers by shifting the focus away from demand forecasting towards the estimation part of forecasting.

Below are the bulletpoints of changes that have been implemented.

Thank you for reviewing my article revision, I am looking very much forward for your feedback! -Joakim

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

Quantitative methods (MAIN FOCUS WITH UPDATE)

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

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)

Forecasting in project management(NEW)

• Write this chapter (DONE)

Problems -> Limitations

• Missing references (DONE)
• Title change: problems -> limitations (DONE)
  • More focus on limitations (DONE)

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 (DONE)

Other Estimation techniques

• Add more internal estimation techniques

References

• Briefly summarize the key references