Failure to Forecast (Well)

Much of what we do as asset management activities is a matter of forecasting. Are we any good at it? Unfortunately, the answer is, “No, but we think we are”.

Photo by Mark König on Unsplash

Strategy deployment, asset planning, operations risk management, asset health & condition monitoring, asset performance management, and asset investment planning all require deft forecasting skills. In each case, we are challenged to judge what we believe will…