Estimating and Forecasting in Waterfall Environment
- 6 courses
- 14 hours
- Skill IQ
In this skill path, the learner will develop practical decision-making skill in assessing uncertain project outcomes, then modeling those uncertainties using different statistical models. After completing this path, the learner will know how to create probabilistic forecasts for traditional, plan-driven projects so they can align stakeholder expectations and foster sound business decision-making.
Courses in this path
In this beginner section, learners will discover the importance of estimating; distinguish between estimates, predictions and forecasts; and gain basic skill in modeling project uncertainties using a pre-built, Microsoft Excel-based statistical model.
In this intermediate section, learners will focus on creating forecasts using a variety of statistical approaches for modeling the uncertain nature of traditional, plan-driven projects. Learners will also know how to effectively share their forecasts with key stakeholders and organizational decision-makers.
In the advanced section, learners will apply their skill to solve real-world business problems using a scenario approach to learning. Learners will create project schedule and budget contingencies without simulating. Finally, learners will also explore how structured expert judgment using the classical model can help them assess and improve the quality of expert judgment used to create estimates.