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Figure 7-6: Lotus 1-2-3® formulas for Figure 7-5.

Figure 7-6: Lotus 1-2-3® formulas for Figure 7-5.

or a 5.2 percent error. In order to produce measures similar in nature and concept to»-the MAD and TS, we will subtract 1 from the ratio. Thus, when the actual is greater, than the forecast, the measure (i.e., the error ratio minus 1) will be positive, and if the actual is less than the forecast, the measure will be negative. Figure 7-7 shows the calculations of (A(i)/F(f) - 1) for the data used in Figure 7-5. Column E shows the absolute value of column D, and column F lists the MAR (mean absolute ratio). The tracking signal is calculated as usual by dividing the "running sum of the forecast ratios" (RSFR) by the MAR,

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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