Tag: forecasting
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4 Rules for Smarter Economic Forecasting in Construction
Planning for the future has never been as vital — nor as daunting — as it is today. The past five years have demonstrated just how tumultuous the construction industry can be – from supply chain disruptions and labor shortages to rapid inflation and regulatory shifts, each year seems to bring new and unforeseen changes.…
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Cashflow in construction – foresight v forecasting
However, this isn’t true forecasting. A more accurate forecast comes from statistical analysis of up-to-date data, which can then be compared against historical trends. Data collected around previous projects can be used as accurate benchmarks when costing and forecasting a new project, adjusting for changes in inflation, labour and material costs. View the original…