One of the most important aspects of project investment and economics is being able to make good predictions of key events that will shape the success or failure of a project. In this assignment, you will write four paragraphs:
- The first paragraph will describe why understanding forecasts and their limitations is important to understanding the viability of a project. Recommended length: 200 words
- The second paragraph will give an important example of when forecasting is likely to be successful. Give a brief explanation for why you believe forecasting works in this case. Recommended length: 200 words
- The third paragraph will give an important example of when forecasting is likely to be unsuccessful. Give a brief explanation for why you believe forecasting doesn’t work in this case. Recommended length: 200 words
- The fourth paragraph will be a brief description of when you believe forecasting is appropriate and when it is not and why you think this is the case. Recommended length: 200 words
The response includes evidence of deeper thinking, extending the answer beyond the set questions by linking it with other (relevant) topics covered in class and the overall learning experience in this course. This may include additional examples (but not described in detail), commentary on relevant trends or industries, use of stats or other tools to help with forecasting etc.
