Certified Meeting Professional (CMP) Practice Exam

What is an essential outcome of effective forecasting?

1. A breakdown of tasks

2. A comprehensive project schedule

3. A budget analysis

4. A risk assessment

The correct answer is: A comprehensive project schedule

Effective forecasting is crucial for successful project management, as it enables stakeholders to anticipate future trends, resource needs, and potential obstacles. One essential outcome of this process is a comprehensive project schedule. This schedule provides a clear timeline for activities, helping to align resources and manage timelines efficiently. By accurately forecasting the duration and timing of tasks, stakeholders can create a detailed schedule that serves as a roadmap for the entire project. While having a breakdown of tasks, budget analysis, and risk assessment are also important components of project management, they do not directly stem from the forecasting process. Instead, they are typically considered as additional planning layers that may utilize the data generated from effective forecasting to ensure overall project success.