POLYTECHNIC UNIVERSITY OF THE PHILIPPINES

OPEN UNIVERSITY SYSTEM

MASTER OF SCIENCE IN CONSTRUCTION MANAGEMENT

CM 658- TIME MANAGEMENT

EXECUTIVE SUMMARY:
SCHEDULE FORECAST
CHANGE REQUEST

Group No. 3

Submitted by
Eithne Dennise R. Fajardo
MSCM 2B

Submitted to

DR. LUTZER REYES

Course Specialist

2020

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1. EXECUTIVE SUMMARY:

Time management in the whole phase of a project is one of the most important aspect
to do. And as the project progresses, time management is more often subject to change. To
do things properly, it is important to troubleshoot the problem with the right way. One
thing is to monitor outputs for the whole duration of the project. As you monitor it,
schedule forecast and change requests are words that you will face along the way.

Schedule forecast are estimates or predictions of events in the project’s future or

output based on existing knowledge at the current phase of the forecast. Schedule forecasts
are updated and monitored along with the current performance evaluation or information
provided as the project progresses. Information is gathered from project’s past
performance and the expected future performance from preventive actions. Schedule
forecasts are derived from progress against the schedule baseline and computed time
estimate to complete (ETC), typically expressed in terms of schedule variance(SV) and
schedule performance index(SPI). To calculate the schedule forecasts, a schedule model
may require two or more project calendar to allow for different work periods for some
activities.

Schedule model is a tool that can be helpful in creating the overall schedule for the
project. Each task can now monitor the timing of activities as well as the performance of
employees and workers on a certain project. Schedule baseline is the approved version of
the schedule model that can be changed only through formal change control procedures. It
is used as a basis for comparison to actual results or the changing forecast outputs. Based
on the project’s past performance, the schedule forecasts are now used to determine if the
project is within the defined tolerance ranges for schedule and to identify any necessary
change requests.

Change requests are a processed analysis based on schedule variance, results of

performance and modifications to the project scope. It is then for review of the Perform
Integrated Change Control process which will affect and order changes to the schedule
baseline.
In terms of risk analysis, forecasts may be compared to the results of quantitative
schedule risk analysis to determine the confidence level associated with achieving the
targets.

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2. REFERENCES:

 Project Management Institute. (2017). A guide to the project management body of

knowledge (PMBOK guide). Newtown Square, Pennsylvania. Project Management
Institute, Inc.
 Alby, T. Definitions. Project Management Knowledge. Retrieved from
https://project-management-knowledge.com/definitions

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