Category: Estimating the Work

There are several key estimating techniques you should know about. Table 7.1 lists these techniques and summarizes the key characteristics of each. TABLE 7.1 Estimating Techniques Estimating Technique Key Characteristics Notes Analogous (top-down) estimating Used in early planning phases and project selection. Utilizes historical information (actual duration periods from previous projects) to form estimates. Reliable if WBS from…

There lies the key challenge. How do you manage the uncertainty that is naturally involved with the estimating process? Because these estimates form the foundation for the project schedule and the project budget, you must implement techniques and approaches that enable you to properly manage this risk and the expectations of your stakeholders. Although this…

Before we get into the details of estimating, let’s make sure we are clear on where estimating falls in the schedule development and planning process. If someone stopped you on the street and asked you for an estimate, what is the minimum information that you would need? You would need to know what the estimate…

Estimating. Nothing else symbolizes the challenges of project management better. Negotiate with senior management and customers to prevent “ball park” estimates from becoming your targets; team with subject matter experts (SMEs) and knowledge workers to develop accurate estimates for work that has never been done in these conditions, with these tools, by these people; assess…