Three Approaches To Estimating

Project managers are under a lot of pressure to produce estimates of time and cost for systems development very early in a project, typically in the first two weeks. However, estimating a development project from outline requirements and not from a physical design is like a home buyer saying, "Quote me a price for building a house, but I am not sure where I want the house located, or about the number of rooms, or whether it should be of brick or wood." It is not surprising that project estimates are as bad as they are, but that they can be made and met at all. Three approaches can be taken to estimating:

1. Using industry experience

2. Using the experience of one's own organization

3. Rolling up more or less detailed estimates of the project effort

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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