- Engineer Autoscaling
- Productization
Predictive Forecasting
Accurate Deliverables and Increased Communications for Project Success
The Challenge
When working in cross-team environments with numerous stakeholders, it can be difficult for all parties to easily understand the current state of the project, which items have been delivered, and where priorities stand.
Often, teams hope to meet their project completion estimate, using best guesses and past experiences to set a due date for completion. This process frequently leads to teams rushing to meet rigid deadlines without absorbing the context of the project scope.
7Factor uses predictive forecasting to combat these pitfalls. Predictive forecasting ensures transparency, increases client communications, and delivers data-backed deliverables.
Our Solution
In this specific client example, the 7Factor team used multiple analytical reports delivered through predictive forecasting systems to increase team productivity, adjust feature prioritization with the client, and decrease bottlenecks.
Monte Carlo Simulation: 7Factor utilized Monte Carlo simulations to generate highly accurate project timelines and provide weekly progress reports to client stakeholders. Despite initially predicting the completion of 35 items by November 15, 2023, additional tickets extended the timeline, causing concerns among stakeholders. After an overview of the Monte Carlo Simulations, the stakeholders realized that more tickets had been completed than predicted and adjusted their plans accordingly to focus on critical project aspects.
Work in Progress (WIP) Limit: 7Factor uses WIP limit graphs to track the age of in-progress tickets. Frequent priority changes from stakeholders caused ticket age spikes and slowed progress, but after 7Factor highlighted this issue, stakeholders restructured priorities, allowing the team to clear the backlog and reduce ticket age to expected levels.
Throughput Chart: 7Factor used throughput charts to track the number of tickets at each development stage over time, highlighting project progress and completion rates. As high-priority tickets increased, so did the number of in-development and to-do tickets, leading stakeholders to realize that progress was stalling. Following a meeting with stakeholders, timelines were readjusted, and ticket prioritization improved, resulting in decreased in-progress tickets and an increased rate of ticket clearance.
These predictive forecasting analytics enabled efficient project prioritization and ultimately led to a live application and a satisfied client.
36%
increase in project visibilty
5-Star
client rating
120 minutes
of meetings eliminated per week
What Sets Us Apart
7Factor’s implementation of predictive forecasting significantly enhanced productivity by providing stakeholders with a clearer understanding of project data. This transparency facilitated a client-led restructuring process, which resulted in more streamlined and cohesive project prioritization. The successful integration of predictive forecasting techniques enabled the client to identify critical tasks and allocate resources more efficiently, ultimately driving the observed increase in productivity.
7Factor's expertise in predictive forecasting sets it apart within the industry. This approach not only yields more accurate timelines but also ensures higher levels of client satisfaction by delivering reliable and actionable insights for project management. Additionally, by applying predictive forecasting to our estimation process, we further refine the efficiency of our projects, ensuring precise and dependable project planning and execution.
