Trend analysis

Trend analysis

An analytical technique that uses mathematical models to forecast future outcomes based on historical results. It is a method of determining the variance from a baseline of a budget, cost, schedule, or scope parameter by using prior progress reporting periods' data and projecting how much that parameter's variance from baseline might be at some future point in the project if no changes are made in executing the project.

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Part of Speech: noun
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Industry/Domain: Business services
Category: Project management
Company: WSDOT
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trend analysis

Accounting; Auditing

An analysis of the change in something over time. Analytical procedures, which compare financial statement ratios of different years, are an example of trend analysis.

trend analysis

Business services; Project management

An analytical technique that uses mathematical models to forecast future outcomes based on historical results. It is a method of determining the variance from a baseline of a ...

trend analysis

Professional careers; Sales

A forecasting method in which likely future sales are estimated by statistical analysis of previous sales patterns.

trend analysis

Software; Globalization software service

A type of analysis that displays the analysis of the changes in a given item of information over a period of time.

trend analysis

Software; Supply chain

The analysis of data that exhibits an ongoing upward or downward pattern that is not due to seasonality or random noise. Analyzing trends is useful in detecting patterns that ...

trend analysis

Health care; Insurance; Managed care; Health insurance

A method of horizontal analysis in which potential line item changes are compared with a previous year.

simulation

Business services; Project management

A simulation uses a project model that translates the uncertainties specified at a detailed level into their potential impact on objectives that are expressed at the level of the ...

project life cycle

Business services; Project management

A collection of generally sequential project phases whose names and numbers are determined by the control needs of the organization or organizations involved in the project. A ...

direct costs

Business services; Project management

The costs directly attributed to a work-scope, such as labor, material, equipment, and subcontracts, but not the cost of operations overhead and the labor, material, equipment, ...

skill

Business services; Project management

Ability to use knowledge, a developed aptitude, and/or a capability to effectively and readily execute or perform an activity.

project management (PM)

Business services; Project management

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

direct labor costs

Business services; Project management

Costs accruing from expended labor excluding the bonus portion of overtime, insurances, and payroll taxes.

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