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Forecasting for Product Managers

Posted on 02.16.21

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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.

Course Content

Expand All
INTRODUCTION
Sample Lesson 2 Topics | 1 Quiz
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Lesson Content
0% Complete 0/2 Steps
What is Forecasting?
Forecasting in Product Management
Forecasting: Pre-Evaluation Quiz
FINANCIAL ANALYSIS
Financial Analysis: The Basics of Forecasting 8 Topics | 3 Quizzes
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Lesson Content
0% Complete 0/8 Steps
Average Selling Price (ASP)
Return on Investment (ROI)
Breakeven and Payback Period
Checkpoint: Payback Period and Breakeven Point
Contribution Margin
ASP Examples
Checkpoint: ASP
Answers to ASP Checkpoint
ROI Example
Checkpoint: ROI
Answers to ROI Checkpoint
FORECASTING MODELS
Steps to Create a Sales Forecast 1 Topic | 1 Quiz
Expand
Lesson Content
0% Complete 0/1 Steps
Creating the Forecast: Lead Time and Sales Cycle
Checkpoint: Creating a Sales Forecast
Types of Sales Forecasts 5 Topics | 3 Quizzes
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Lesson Content
0% Complete 0/5 Steps
Historical Trend Analysis
Optional Activity: Historical Trend Forecast
Moving Average
Optional Activity: Moving Average Forecast
Regression Models
Seasonality
Optional Activity: Seasonal Data Patterns
Example: Regression Analysis
PRICING MODELS
Additional Factors 2 Topics
Expand
Lesson Content
0% Complete 0/2 Steps
New Product Pricing Strategies
Positioning Statements
Summary and Final Quiz
Summary: Product Forecasting 1 Quiz
Expand
Lesson Content
Forecasting: Final Quiz

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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