The dataless forecasting of resources for product design engineering projects

Project aim

To determine the suitability of the dataless forecasting method in producing accurate resource forecasting tools for product design engineering agencies. This will be achieved by developing custom estimation tools for participants of a multi-case study approach, comparing the results of each study with current estimation efforts, and monitoring performance post-deployment.

Project background

Dataless forecasting is an innovative resource forecasting method developed in DMEM for new product development (NPD) projects within large companies in a range of industries. Accurate, transparent, and repeatable, dataless forecasting has improved forecasts and reduced estimation time from weeks to minutes. This research project takes this innovative method and applies it to the extremely diverse industry of product design engineering agencies; a field characterised by highly diverse client ranges and project types. This variance in projects and clients provides, not only the greatest challenge to design managers, but also the greatest opportunities for improvement, with success leading to significant financial and productivity benefits. In the latest case study, a predictive tool has been created producing forecasts with an accuracy of 84.9%, not only saving hours of planning time but is also an average increase of accuracy of 13.9%, based on current methods.