AM 434 – Forecasting Demand

Overview

Our population is rapidly transforming due to urbanisation, regional decline, ageing, immigrant-led diversity, technology, climate change and Covid-19. Historic trends are no longer reliable predictors of the future.

Yet forecasting demand plays an important role in an organisation’s strategic planning, whether it’s for an existing portfolio of assets or determining future requirements to meet changing demand.

In this course you will learn to understand your current demand, analyse demand drivers, forecast future demand, and identify opportunities to influence demand.

By the end of the course, learners will be able to:

• Measure and analyse current levels of demand and the components that make up that demand
• Understand demand drivers
• Explain appropriate techniques for forecasting future service demand
• Translate future demand into an understanding of how the demand changes may impact assets
• Apply demand management techniques to minimise demand when needed
• Manage the inherent uncertainty in demand forecasts through sensitivity analysis and risk assessment.

Who should attend

Those involved in planning and making decisions about infrastructure assets in an organisation, particularly where those decisions rely on future demand forecasts.

Typical attendees include

• Asset Managers
• Engineers
• RMA Strategic Planners
• Corporate Planners
• Strategy Staff

Learning material

• Text, images, video
• Formative assessment
• Activities
• Case studies
• Summative assessment

Outcomes

This course will develop your understanding of demand forecasting, including your current demand, demand drivers, ability to influence demand, and how to manage the uncertainty of the future.

Recommended prior learning

• AM 203 – Lifecycle Planning
• AM 305 – Planning and Decision-Making