From the course: Learning Gantt Charts

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Forecasting challenge

Forecasting challenge

From the course: Learning Gantt Charts

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Forecasting challenge

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- So, once you've worked out what's happening at the moment in your project, the next question is to work out what's going to happen in the future? Your objective is to estimate what's often known as the FCC. This is the Forecast Cost at Completion. And you got to estimate this from a combination of the progress in the spend. The main question is whether your problems are going to continue at the same rate in the second half of your project, or whether they are all in the past now. Let's do an example. Have a look at this simple project. It's just four tasks, A, B, C, and D, done one after the other. You can see that the total cost is 70 plus 30 plus 100 plus 160, which comes to 360. And the total expected time is five plus six plus three plus eight, which is 22 weeks. Okay, so we're going to spend 360 over 22 weeks. Now, suppose that 16 weeks have been used up and we've done A and B and we've spent 150. How are…

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