project forecasting and its value to business 1

Task:Research and write a proposal to do research in a topic relevant to your concentration.The paper must be organized into five chapters in the following order:

As small businesses grow, they often pursue new projects to expand their reach and boost revenue. One of the most important jobs of business managers is choosing which projects to pursue and assessing the potential of ongoing projects. Project forecasting is the process of making conjectures about future performance, which can help managers decide whether to create new projects and whether to continue with existing projects.

Forecasting Basics

A forecast is a statement about how the future will turn out based on evidence or assumptions. In business, project forecasts often involve the analysis of data, such as the performance history of a particular project. The purpose of forecasting is to give managers insight into how profitable projects are likely to be in the future. Managers may choose to forego new projects or stop current projects if forecasts are unfavorable.

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