Resource forecasting equips managers to predict resource requirements for pipeline projects. Without it, organizations risk engaging in last-minute firefighting for competent resources, resulting in budget and schedule overruns. However, with advanced forecasting capabilities, managers can identify resource shortages/excesses and implement corrective actions in advance.
For instance, when resources are in excess, managers can bring forward the project timelines. Conversely, during resource shortages, managers can hire new resources or train existing resources to bridge the gap and ensure projects are well-staffed to respond to unforeseen circumstances.
