Leading Answers
AUGUST 25, 2020
Project managers generally like plans and estimates so we can forecast when things should be done and how much they may cost. " So, when project managers hear about ideas such as "let's stop estimating," it can trigger a knee-jerk reaction. It sounds lazy and avoiding the hard work of having to estimate.
LiquidPlanner
FEBRUARY 14, 2022
When studies tell us that easily half of all IT projects run over budget and past deadline , we see how easily risk turns into real trouble for projects and their organizations. an estimate of three or more on the scale mentioned in No. Estimation. But there are ways you can mitigate and manage risk. Identify opportunities.
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MPUG
SEPTEMBER 25, 2023
Each work package is meticulously defined, encompassing specific tasks, resources, and budgeting details. Take, for example, an ambitious project stretched over an 18-month timeframe with a sizeable budget allocation of $4.9 Crafting a Comprehensive Timeline : Standard cost estimation often presents costs in a linear or uniform manner.
Rebel’s Guide to PM
DECEMBER 9, 2020
The 2020 Tokyo Olympics ( budget : US$5.9bn) were postponed as a result of the global pandemic, but investment in infrastructure and megaprojects continues. The Asterion Medicinal Cannabis Project has a capital budget of A$450m and will create around 800 construction jobs and 150 ongoing jobs.
Rebel’s Guide to PM
DECEMBER 16, 2016
The introduction of the apprenticeship levy in the UK next year may well have a significant impact on training budgets even in mid-sized firms. Our software tools are full of data from the risks we log to the estimates we fail to achieve. How long can we cruise on the coattails of project successes like London 2012?
Herding Cats
DECEMBER 3, 2017
Some feel that the cone does not provide any value for the work they do and does not match the reducing uncertainty in their estimates. First, the Cone of Uncertainty is a Principle used to define the needed reduction in the variances of estimates on Programs. That is an Immutable Principle of good project management.
Herding Cats
JULY 24, 2017
The paper on the Cone of Uncertainty is used by many in the No Estimates community as an example of why estimates are of little use. In this paper, there is data that does not follow the Cone of Uncertainty, in that the uncertainty of the estimates does not reduce as the project proceeds. Then there is some analysis.
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