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Process map for forecastingTimeline for team-based forecasting

These are rough numbers, for an inexperienced team in a large company.

  • Organizational meeting - an hour
  • Assess the market - Eight to ten weeks working part-time
  • Purpose, Vision, Options meeting - two to three days, off-site
  • Assess the options, estimate costs - three to five weeks
  • Best options, coordination meeting - one day
  • Finalize action plans, budget inputs - two weeks

Considerations

There maybe an addition meeting to identify the best option before presenting the strategy to the boss.

If you engage a consultant to do the research, there is usually more time required to bring them up to speed.

 



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