When Forecasting Fails
UCLA hosted the 10th annual ‘Martin Wachs Distinguished Lecture”, where invitee lecturer, Joe Schofer, Faculty at Northwestern University, provided a wide-ranging view about forecasting – a prominent feature of transportation planning. He explains that learning to accept the inherent limitations of the forecasting process is a necessary first step in helping planners improve their predictions of cost, utilization, performance and impact, and that systematic learning from experience is vital when predicting the outcome of major infrastructure projects