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Forecasting for Product Managers

Posted on 02.16.21

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Price
$54.95
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Forecasting is an important skill for all managers and plays a significant role in the success of product innovation. Product managers forecast expected sales and costs to establish a business case as context for new product development. Forecasts are also used to plan manufacturing and resourcing (materials and talent) throughout the life cycle of a product.

Both qualitative and quantitative methods are deployed in successful product forecasting. There are many statistical methods used to build accuracy in forecasts. Benchmarking is a form of forecasting to compare against world-class and average competitors.

Course Objectives

  • Define forecasting for product management
  • Understand the various time horizons and models for forecasting
  • Explain special factors and accuracy of a new product forecast
  • Use sample data to create a quantitative sales forecast

This course takes about one hour to complete. With a passing score of 80% or greater on the final quiz, each participant can download a Completion Certificate showing 1 PDH. You will be able to access the Completion Certificate through the “My Account” setting.

Categories: CPEM, Leadership, NPDP, PMP-Leadership, PMP-Tech Tags: business strategy, forecasting, product development, product innovation, product life cycle, product manager, product portfolio management

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