Forecast vs Plan vs Target

Quick answer

Forecast is the current best prediction; Plan is the approved document describing scope, schedule, resources and how the project will be managed — the difference, and when each applies, below.

The 30-second answer

Forecast: The current best prediction. Plan: The approved document describing scope, schedule, resources and how the project will be managed. Target: The desired value you’re aiming for. The difference matters when you’re picking the right tool for the situation.

Side by side

Forecast in depth

The current best prediction — use it updating expectations.

Plan in depth

The approved document describing scope, schedule, resources and how the project will be managed — use it every project, once, kept current.

Target in depth

The desired value you’re aiming for — use it goal-setting.

Which one when

• Use Forecast when updating expectations.
• Use Plan when every project, once, kept current.
• Use Target when goal-setting.

In practice they coexist — the skill is knowing which fits the moment.

Bottom line

Forecast is the current best prediction; Plan is the approved document describing scope, schedule, resources and how the project will be managed — the difference, and when each applies, below.

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