Project Management

Estimating

Estimating is usually considered to be the hardest part of the project manager's tasks. Estimating means trying to predict how much? and how long? (both actual and elapsed time) for each task and/or project output. It is crucially important that the project manager distinguishes between estimates for tasks within his/her control and tasks/events outwith his/her control.

The estimating process, just like the planning process, needs to be re-iterated frequently throughout the project as progress is made and as unforeseen events force changes of plans.

To succeed in matching estimates with actual results will be partly a matter of “managing the project to meet the estimate”.

However, the scope, end-date, resources and quality all tend to be outside the sphere of influence of the project team but are all part of the PID and therefore of the “contract”.

On the other hand, focus, approach and skill-levels used in the project delivery are all within the sphere of influence of the project team and can profoundly affect the rate of progress and hence success in matching the estimates.

There two common approaches to estimating

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	Task-based estimating
	Constraint-based estimating

Estimating The Benefits

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	Refer to the BENEFITS REALISATION Principle

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