In just a few short hours (depending on when you’re reading this), the 83rd annual Academy Awards — aka the Oscars — will air live via Star Movies in the wee hours of the morning.

As per tradition, Images on Sunday presents our pick for 2011. But before we begin, a little 101 on the process: these predictions are not a dip-stick poll that rummages information from the internet. We predict winners using the age-old model of watching (almost) all the contenders, in as many categories as humanly possible. The predictions are then short-listed by industry trends, previous winning at other industry awards — and most importantly — last minute Oscar pushes by distributors, and of course experience. Predicting winners is just a small part of a bigger, more intricate, game.

As always, the predictions are broken down into three categories: one is the predicted winner, followed by our personal favourites who may upset the event (in many cases our favorites will overcome our predictions) and with some it’s the other way round.

In two cases (Best Picture and Director) our personal favorites conflict with the upsets. The Social Network is a stronger picture with wins at all regional critic award circles and especially a last-minute win at the Eddie Awards (held by the honorary American Cinema Editors society — aka ACE) last Sunday. In the last six out of 10 years, the picture that wins best dramatic Eddie secures Best Picture.

If The Social Network wins Best Picture over The King’s Speech, it will be by a very narrow margin. Both Producer Guild (PGA) and Directors Guild (DGA) have supported The King’s Speech, which creates the shake-up because most members of ACE, DGA and PGA are members of the Academy. The DGA logic also applies to the competition between directors Tom Hooper and David Fincher. Hooper has the DGA; Fincher is the favourite.

In many categories (especially Foreign Film, Documentary and Song) we found conflicting emotional ties to most contenders; something we feel will strongly influence decisions come Monday morning.

Three Foreign Films [In a Better World, Biutiful, Incendies (pronounced ‘On-Sen-Des’)] proved most difficult to judge on a personal basis; all of them were raw, emotionally unforgiving and beautiful.

More raw and relevant were the five documentaries with each as diverse — technically and aesthetically — as its subject would allow. One presented the future of quirky cinematic documentary-making (Exit through the Gift Shop); one was socially significant (Gasland); another was a spellbinding, moving journey of art (Waste Land); then there was a Hurt Locker of the set (Restrepo) and finally, a harrowing account of Wall Street’s fall in 2008 (Inside Job).

The bigger, more commercial, categories are a bit easier to speculate. The King’s Speech recently emerged as a hyped favourite, mercilessly head-butting The Social Network.

The Fighter will overawe both Supporting Actor/Actress categories. One look at the flimsy Christian Bale, with his eyes darting, his fists flying and you know he’s the winner. The same applies to his bossy mother played by Melissa Leo. Natalie Portman (Black Swan) has an easy win over Annette Bening (The Kids Are All Right) who we found did not extrude a Best Actress aura.

Inception will nab the technicalities. And Roger Deakins, with a resume overflowing of Oscar noms such as The Shawshank Redemption, Fargo, Kundun, O Brother Where Art Thou?, The Man Who Wasn’t There, No Country for Old Men, The Assassination of Jesse James by the Coward Robert Ford and The Reader will win for True Grit, if only for sentimental reasons (a possible upset could be Wally Pfister for Inception, who won The American Society of Cinematographers award).

So now, without further ado, here are the possible winners of the 83rd Academy Awards:

Picture: The Social Network

Possible Upset: The King’s Speech

Prediction: The Social Network

Director: David Fincher (The Social Network)

Possible Upset: Tom Hooper (The King’s Speech)

Prediction: David Fincher (The Social Network)

Actor: Colin Firth (The King’s Speech)

Prediction: Colin Firth (The King’s Speech)

Actress: Natalie Portman (Black Swan)

Prediction: Natalie Portman (Black Swan)

Supporting Actor: Christian Bale (The Fighter)

Prediction: Christian Bale (The Fighter)

Supporting Actress: Melissa Leo (The Fighter)

Prediction: Melissa Leo (The Fighter)

Animated Feature: Toy Story 3

Prediction: Toy Story 3

Documentary Feature: Inside Job

Prediction: Exit through the Gift Shop, Gasland (MKJ); Restrepo, Wasteland (FJ)

Foreign Language Film: In a Better World (Denmark)

Prediction: Biutiful [Mexico (MKJ)]; Incendies [Canada (FJ)]

Adapted Screen-play: Aaron Sorkin (The Social Network)

Prediction: Aaron Sorkin (The Social Network)

Original Screen-play: David Seidler (The King’s Speech)

Prediction: Christopher Nolan (Inception)

Art Direction: Robert Stromberg, Karen O’ Hara (Alice in Wonderland)

Prediction: Guy Hendrix Dyas, Larry Dias and Doug Mowat for Inception (MKJ); Eve Stewart and Judy Farr for The King’s Speech (FJ)

Cinematography: Roger Deakins (True Grit)

Prediction: Roger Deakins for True Grit (MKJ); Wally Pfister for Inception (FJ)

Costume Design: Colleen Atwood (Alice in Wonderland)

Prediction: Colleen Atwood for Alice in Wonderland (MKJ); Jenny Beavan for The King’s Speech (FJ)

Editing: Angus Wall, Kirk Baxter (The Social Network)

Prediction: Jon Harris for 127 Hours (MKJ); Tariq Anwar for The King’s Speech (FJ)

Make-Up: Rick Baker, Dave Elsey (Wolfman)

Prediction: Rick Baker and Dave Elsey for Wolfman (MKJ); Adrian Morot for Barney’s Version (FJ)

Original Score: Trent Reznor, Atticus Ross (The Social Network)

Prediction: A.R. Rahman for 127 Hours (MKJ); Alexander Desplat for The King’s Speech (FJ)

Song: We Belong Together (Randy Newman; Toy Story 3)

Prediction: I See the Light by Alan Menken and Glenn Slater for Tangled or Coming Home by Tom Douglas, Troy Verges and Hillary Lindsey [Country Song] (MKJ); If I Rise by A.R. Rahman for 127 Hours (FJ)

Sound Editing: Richard King (Inception)

Prediction: Richard King (Inception)

Sound Mixing: Lora Hirschberg, Gary A. Rizzo, Ed Novik (Inception)

Prediction: Lora Hirschberg, Gary A. Rizzo, Ed Novik (Inception)

Visual Effects: Paul Franklin, Chris Corbould, Andrew Lockley, Peter Bebb (Inception)

Prediction: Paul Franklin, Chris Corbould, Andrew Lockley and Peter Bebb for Inception (MKJ); Ken Ralston, David Schaub, Carey Villegas and Sean Phillips for Alice in Wonderland (FJ)