Key Characteristics

Used in early planning phases and project selection.

Utilizes historical information (actual duration periods from previous projects) to form estimates.

Used to develop detailed estimates Provides estimate for lowest level of theWBS (work package).

Provides the most accuracy.

Uses project phase percentages to estimate.

Example would be

Initiation Phase10%

Plan Phase10%

Elaboration Phase20%

Construction Phase40%

Deploy Phase20% Based on experiences. "Rule-of-thumb" estimating.

Frequently used when no historical records are available.

Uses historical data and statistical relationships.

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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