Tag: forecasting
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4 Common Forecasting Mistakes Construction Companies Should Avoid
Few industries are so sensitive to the whims of the economy as construction. Supply chain disruptions, labor shortages, inflation and regulation have left many businesses feeling as though they just can’t keep up. How can anyone make meaningful, actionable projections when every month brings a new and unforeseen change? The answer is that a good…
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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…