Estimating

Zen Project Management

I started thinking about how common it is for people to not be able to provide good estimates. It was ironic, but part of the work with my client that week was explaining the technique of relative estimates using t-shirt sizes and story points. The team I was working with was new to agile and used to the old way of doing absolute estimates, which as we all know are not as accurate because of things like student syndrome or Parkinson's Law.

Everyone estimates!

Musings on Project Management

We all make estimates; and we all make estimates all the time. When I make the 20 mile trip each Tuesday to a client site, I estimate adjustments to a baseline based on weather and road construction and if I know about an accident. Really, no one sets out to do anything meaningful without some estimate in mind re time, or cost, or risk; usually we can also notionally estimate the scope. So, agile estimate

Software Review: Roadmap Planner [2017]

Girl's Guide to PM

Software review: Simplestimate [2016] Find out more about how to make estimating simple with this software review of Simplestimate. General Information. Name: Roadmap Planner. Vendor: KeepSolid Inc. Hosting options: iOS and macOS downloads (no Windows option yet).

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Software Review: Roadmap Planner [2017]

Girl's Guide to PM

Software review: Simplestimate [2016] Find out more about how to make estimating simple with this software review of Simplestimate. General Information. Name: Roadmap Planner. Vendor: KeepSolid Inc. Hosting options: iOS and macOS downloads (no Windows option yet).

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How To Estimate Projects: The Complete Guide To Project Budget & Cost Estimation

The Digital Project Manager

Estimating successfully is all about getting the right amount of funding to enable you to successfully deliver a project. The post How To Estimate Projects: The Complete Guide To Project Budget & Cost Estimation appeared first on The Digital Project Manager. But creating a project budget that works – delivering worthwhile value for a client at a cost that’s still going to make a respectable profit for the agency is a tricky balance, so how do you do it right?

3 Team Techniques to Improve Cost Estimates

Project Risk Coach

Improve buy-in and support for your project budgets Do you ever feel like the Lone Ranger when trying to improve cost estimates? Many project managers are left to their own devices when estimating projects. So, how can we improve our cost estimates?

2017 Project Management Trends To Watch

Girl's Guide to PM

This year I’m looking forward into 2017 to highlight some of the project management trends I think it is worth watching out for. Will 2017 be the year we get our first Chartered Project Professionals? Be brave, find your people and have a wonderful 2017.

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The brief moment when you think you’ve just produced a perfect estimate

The Digital Project Manager

The post The brief moment when you think you’ve just produced a perfect estimate appeared first on The Digital Project Manager. The PM life

3 Tips for creating Accurate Project Estimates

Hydra

Despite the complexities involved, it’s essential to do the very best with your project estimates. Here are our 3 tips for creating accurate project estimates. Industry

Independent Cost Estimating (ICE)

Herding Cats

Unless you have skin in the game your estimate for the work can't be credible. Let's look at the potential for such an approach in light of the credibility of an estimate. No one getting paid to estimate likes to present bad news. NoEstimates Estimating

When the Business Dev team try to do their own estimating

The Digital Project Manager

The post When the Business Dev team try to do their own estimating appeared first on The Digital Project Manager. The PM life

What is an Estimate? What is Estimating?

Herding Cats

I work in a domain where estimates are made every single week. Estimate to Complete (ETC), Estimate at Completion (EAC), Estimated Completion Date (ECD) are the life blood of our software intensive system of systems programs. But Estimating is NOT Guessing.

Estimating Tools and Resources

Herding Cats

Tools and resources for cost and schedule estimating, when you here estimates are hard, we're bad at estimating, estimates are a waste, estimates are misused All those statements are fallacies. iceaaonline.com International Cost Estimating and Analysis Association.

Decisions Without Estimates?

Herding Cats

Can you make a decision without an estimate? There are NO means of making a credible decision in the presence of uncertainty without estimating the outcome of that decision. Don't assume, Estimate. Be an Adult, estimate the impact of the risk on the probability of success.

How to Talk About Estimates

Herding Cats

What is an estimate? An estimate as a noun is an approximate calculation or judgment of the value, number, quantity, or extent of something. An estimate as a verb is to roughly calculate or judge the value, number, quantity, or extent of. Estimates.

Principles of Cost and Schedule Estimating

Herding Cats

One of the 4 summary root causes of project performance failures is Unrealistic Cost and Schedule Estimates based on inadequate risk-adjusted growth models. If you have no uncertainty, then estimates provide no value. Herding Cats: Basis of Estimating Software Development.

Estimates, Forecasts, Projections

Herding Cats

Estimates. An Estimate is a value inferred for a population of values based on data collected from a sample of data from that population. The estimate can also be produced parametrically or through a simulation (Monte Carlo is common, but Method of Moments is another we use). . Estimates can be about the past, present, or future. We can estimate the number of clams in the Pleistocene era that are in the shale formations near our house. Estimate to Complete.

Basis of Estimating Software Development

Herding Cats

The estimating of software development is both straightforward and complex. When it is suggested that estimating is hard, of no value, and unnecessary, always ask what principle is used to support that claim? Here are some resources that will provide guidance to produce credible software development estimates, in both traditional and agile domains. Software Sizing and Estimating: Mk II FPA , Charles Symons, John Wiley & Sons, 1991.

When to Estimate and When Estimates aren't Needed

Herding Cats

Paul Boos has a post about estimating and makes a case for the Principles of when NOT to estimate. This struck a cord around a bigger topic - the inversion of estimating. When should we NOT estimate? What business decision making conditions could be in place where we don't have to estimate the outcomes of our decision in the presence of uncertainty? Then on to the original conjecture for No Estimates from Paul's post. Not principles for NOT estimating.

Estimating Accuracy Mathematics

Herding Cats

In the estimating business, like many things in project management, there is confusion about principles, practices, and processes. A good estimation approach should provide estimates that are within 25% of the actual results, 75% of the time. Want To Learn How To Estimate?

The Potential of Agile

Tyner Blain

The potential to provide better predictions – but only if you invest in estimation skills, and only if you culturally make a distinction between prediction and commitment. To do this, you have to be able to estimate with confidence.

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4 Fallacious Reasons to Estimate and Why Those Are Fallacious

Herding Cats

There's a recent post titled Four Fallacious Reasons to Estimate. It lists the usual suspects for why those spending the money think they don't have to estimate how much they plan to spend when they'll be done producing the value they've been assigned to produce for that expenditure.

Why Johnny Still Cannot Estimate

Herding Cats

He doesn't know how - He doesn't understand how estimates fit into the process of business and managerial finance of product or service development. He doesn't understand why estimates are needed - He doesn't understand the impact on the business for not knowing how long, how much, and what will be produced for the time and money. Coding work is much more fun than making estimates, documenting the requirements, writing tests. Herding Cats: Decisions Without Estimates?

Just a Reminder About Estimating Software Projects

Herding Cats

Here's a clear and concise discussion of the estimating topic. And just a reminder for making decisions in the presence of uncertainty. NoEstimates

Estimating the Risk

Herding Cats

In order to make risk-informed decisions, we must estimate the outcomes and the impacts of those outcomes on future activities (cost, schedule, and technical performance of products and services). Without these estimates, there is no risk management. Without these estimates, there can be no risk management. Be an adult, make estimates of the future outcomes of your risk informed decisions. . [1] Risk is everywhere on projects.

Five Immutable Principles of Project Success and Estimating

Herding Cats

In order to manage risk - and act as an adult when spending other people's money - you must estimate many aspects of the project. The Five Immutable Principles of Project Success layout the aspects of project success that must be managed using estimates. .

Behavioural Economics, Estimating, and Decision Making in Presence of Uncertainty

Herding Cats

You're NOT going to increase the probability of success in the presence of uncertainty without making estimates of the aleatory and epistemic uncertainties the create project risk. Why Guessing is not Estimating and Estimating is not Guessing.

Five Immutable Principles of Project Success and Estimating

Herding Cats

Let's look at what estimates are needed to answer each of the Five questions: Principle. Estimate Needed To Answer The Question. Each requires us to make an estimate of the confidence in the elements of the Plan. You can't apply risk management without estimating.

GAO Cost Estimating and Assessment Guide Applied to Agile

Herding Cats

The GAO Cost Estimating and Assessment Guide has 12 steps. Agile Capabilities Decision Making Estimating Governance Management Performance-Based Project Management® Project Management Requirements Risk Root Cause Analysis Scheduling

The Five Laws of Software Estimating are Wrong

Herding Cats

There's a blog post from a few years back that has resurfaced The 5 Laws of Software Estimates. Law of Software Estimating. Fact of Software Estimating. Estimates are waste. To those paying the developers, estimates provide actionable information needed to make decisions: Can we afford to develop this feature? Estimates are non-transferrable . Its claimed Software estimates are not fungible. Estimates are Wrong. Estimates are NOT Guesses.

Living forward

Musings on Project Management

estimate riskI wrote a few days ago about the hazards of history as a predictor for the future. And, then this shows up from herdingcats: Life can only be understood backwards but you have to live it forward. You can only do that by stepping into uncertainty and by trying, within this uncertainty, to create your own islands. Charles Handy I like the theme about not living in the past, and I.

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Project history -- valuable?

Musings on Project Management

estimate riskIs keeping project history valuable? Doesn't every project office have at least cost history? Isn't all parametric pricing based on history? Yes, to all of the above! Would there be statistics without history? Ooops, perhaps everyone does not agree: "History can not be explained deterministically and it can not be predicted because it is chaotic. So many forces are at work and their.

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12 Principles of Agile with and without Estimates

Herding Cats

When we hear that the next big thing in agile is Not Estimating, let's look to see how those 12 Principles can be applied without those estimates? . How estimates help implement these principles. Without estimates what is missing. Without estimating the delivered value to the business for the estimated cost and time to delivery that value, the balance sheet will be wholly uninformed about when the breakeven date for this expenditure.

6 Practical Ways to Actually Improve Your Cost Management

Project Risk Coach

When John asked the project sponsor how the $100,000 was estimated, but he never got a clear answer. His early estimate — an analogous estimate — was $125,000 with a range of accuracy between -25 percent to +50 percent.

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5 Common Scheduling Mistakes (And What To Do Instead)

Girl's Guide to PM

What to do instead: You’re going to have to redo the fictional schedule again anyway, so why not start with a version that involves real data and real estimates from your colleagues and team? Collaboration was one of my 2017 Trends to Watch.

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7 Ethics Tips For Project Managers

Girl's Guide to PM

It’s probably fairer and less controversial to say that it was “estimated” rather than created totally randomly from scratch. But she was worried that other people were interpreting the estimate as definite fact.

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The 7 best project management mobile apps

Moira Alexander

Project managers’ impressive capabilities can be significantly bolstered with top-notch project management tools. Within today’s realm of project management responsibilities and demands, mobility is no longer a “nice-to-have” option — it’s a necessity. With that in mind, we’ve waded through the sea of project management solutions to short-list the top picks for mobile devices, taking that daunting task off your hands.

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Cancelling Projects: The Project Isn't Being Done Right

Project Health Check

In part 1 of this article series, we accepted that Projects sometimes need to be cancelled. In part 2, we look at how sometimes the Project being worked on is no longer the right Project. In this part 3, we will look at the other cause of cancelling: the Project isn't being done right.

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Using Estimated Earned Value in Project Insight

Project Insight

Earned value management (EVM) helps you analyse the cost performance, schedule performance, cost variance and schedule variance in your project. Experienced PM’s utilize EVM to assess a project’s progress and to allow the project team to se. Connect, Collaborate, Perform - PM Best Practices

PRINCE2 Agile Training: Logical Model Online Training Review

Girl's Guide to PM

Other products offered by this training company: PRINCE2®, PMP Exam Prep, other online PM courses including How to Estimate, Recovery of Troubled Projects, Project Governance. Training Company: Logical Model.

Are You An Intentional Project Manager?

Project Risk Coach

As you struggle with project estimates, budgets, and risks, you engage with team members that bring their personal and professional issues into your world. 10 Things Successful Project Managers Never Tolerate This is a great time for you to be an intentional project manager.

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Have You Considered Legal Project Management?

Girl's Guide to PM

The use of data analytics is now common and this allows legal project managers to do things such as review and assess previous matters and then estimate how future matters are likely to turn out in terms of time and cost to complete.

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5 Mistakes Every Project Manager Should Avoid

Girl's Guide to PM

Involve your team in creating the estimates so that you have a better idea of what is involved. I’m delighted to be partnering with KnowledgeHut to bring you an article by Abhishek Gaurav today. To err is human.

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