Forecasting / EAC

1. Practical outcomeThe learner should be able to plan and conduct a proportionate review of project-controls data, processes and outputs; test evidence against stated criteria; identify material weaknesses; communicate their consequences; and verify corrective action. They should distinguish…

1. Practical outcomeThe learner should be able to recognise a potential change, record and define it, assess integrated consequences, identify the correct authority, support an approve/reject/defer decision and track implementation to verified closure. They should distinguish a changed requirement…

1. Practical outcomeThe learner should be able to design and operate a proportionate project-controls strategy: define what decisions the project needs, identify the information and controls that support them, assign ownership and authority, establish an integrated operating cycle, set escalation…

1. Practical outcomeThe learner should be able to produce one coherent view of expected project outcomes by reconciling schedule, cost, physical accomplishment, acceptance, commercial exposure and uncertainty. They should identify inconsistent assumptions, distinguish target from forecast, build…

1. Practical outcomeThe learner should be able to connect authorised scope, time-phased budget, evidence of accomplishment and incurred cost at a common cut-off. They should calculate and interpret basic Earned Value Management measures, reconcile them to source records, distinguish cost efficiency…

1. Practical outcomeBy the end of this section, the learner should be able to establish, explain, govern and reassess cost and schedule provision for uncertainty without hiding it inside the base plan. They should be able to distinguish base budget or duration from contingency and, where the…

1. Practical outcomeBy the end of this section, the learner should be able to take a defined project objective, a credible current schedule or cost model, and a selected set of material uncertainties and turn them into a transparent quantitative view of possible outcomes. They should be able to…

1. Practical outcomeBy the end of this section, the learner should be able to produce and challenge a credible cost forecast that explains what the project or package is now expected to cost, why that expectation differs from the authorised baseline or prior forecast, what commercial and delivery…

1. Practical outcomeBy the end of this section, the learner should be able to use the approved cost baseline and the reliable current cost position established in M3.3 to determine where cost performance differs from plan, explain why it differs, judge whether the movement is temporary or…

1. Practical outcomeBy the end of this section, the learner should be able to take a credible current schedule and use it to forecast likely future outcomes, explain what is driving those outcomes, test alternative scenarios, assess the effect of uncertainty and management interventions, and…

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