Statistical Forecasting Techniques

Your company has seen important internal projects go off track during execution. After-the-fact analysis has revealed the common factors of inadequate controls and unremarkable but unexpected problems. Senior management now believes that developing and implementing a set of standard control processes, integrated with both planning and execution, will raise success rates.In a 2-3 page training document, complete the following:- Create training materials for the project office.- Indicate what controlling measures should be taken at each phase of a project.- Provide a survey of important numerical/statistical forecasting techniques.- Outline limitations and pitfalls of the numerical/statistical forecasting techniques.- Choose one technique from each of the major forecasting categories numerical/statistical and discuss in detail.

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