Although 'precognition' is commonly understood as 'the ability to predict the future', it's more literal translation is 'to know beforehand'. The second interpretation is more practical.
There are two approaches to psychic precognition:
The first approach is the left-brain, objective approach. Based on past experience, understanding and logic we can extrapolate probable facts of the future. If you drop something, it's probably going to fall - if we wouldn't be able to predict this, we wouldn't be able to walk.
The second approach is the right-brain, subjective approach. We can predict something is going to happen because our imagination and will make it happen. If you want to grab a cup of water, you predict you will grab the cup of water and then you go ahead and grab it.
These examples may seem too simple and maybe not mysterious enough, but they are the basis of psychic precognition. 'Time' is a complex subject, but the practical side of prediction is simple.
No need to go to extremes, a balanced approach is most efficient. Understanding the basics of precognition enables you to use both conscious and subconscious abilities and predict the state of the world (or whatever aspect of it you focus on) with a greater degree of clarity and accuracy.