Three Point Estimates

Three-point estimates, as you can probably guess, use three estimates that when averaged, come up with a final estimate. The three estimates you'll use in this technique are the most likely estimate, an optimistic estimate, and a pessimistic estimate. The most likely estimate assumes there are no disasters and the activity can be completed as planned. The optimistic estimate is the fastest time frame in which your resource can complete the activity. And the pessimistic estimate assumes the worst happens and it takes much longer than planned to get the activity completed. You'll want to rely on experienced folks to give you these estimates.

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.

Get My Free Ebook

Post a comment