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.

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Estimate Software Review Underperforming Technical Team Agile 131

Rebel’s Guide to PM

MARCH 29, 2024

Granted, if the budget you build in the proposal phase is carefully put together and everything goes according to plan, you will end up using that directly as your project budget, but for the purposes of this article, let’s just stick to the proposal phase. For more on how to create a project budget, this article has all the info you need.)

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Scrum.org

MAY 5, 2022

One way is to estimate Product Backlog item (PBI) size. In a recent article, we talked about three ways to estimate: Exact estimation, relative estimation, and flow metrics. This week, I’d like to dive a bit deeper into the most popular estimation technique: relative estimation. . T-shirt sizes.

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Rebel’s Guide to PM

APRIL 10, 2023

Estimating for success Maybe best of all, Moore talks about range-based estimates – a topic I’m very interested in. Moore explains that estimates are biased towards the initial values because people don’t adjust their estimates again after making that initial decision. This book review first appeared in 2016.

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Teamweek

NOVEMBER 3, 2023

Top-down estimating is a form of estimation where existing knowledge of similar projects is used in the estimation process to produce a ballpark figure for the total cost. Like other methods to estimate a new project’s cost , top-down estimation has advantages and disadvantages. What is top-down estimating?

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Teamweek

DECEMBER 22, 2023

Parametric estimation is a crucial estimation technique in project management. That’s because parametric estimations are highly accurate and take some guesswork from your estimation process. What is parametric estimating? The more granular the parameter, the more accurate the estimate.

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Estimate Software Review Project Cost Risk Management 52

nTask

JANUARY 6, 2023

In this article, we’ll discuss some ways to estimate time effectively, so that you can get the most out of your limited resources. Managing a project can be a difficult task, especially when you don’t have a lot of time to spare.

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MPUG

JANUARY 8, 2024

The solution, of course, is estimating. There is a whole science to estimation, and it would be possible to go very deeply into this. But before we start, let’s tackle the Estimation Elephant in the Room…. The estimation techniques they use are a deliberate trade-off between speed and accuracy.

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MPUG

APRIL 2, 2020

can become an accurate estimating tool for top-down (Analogous) and bottom-up (Parametric) estimating. Unfortunately, the large majority of project managers estimate tasks with durations and update tasks by entering %-complete as reported by team members. Using a Schedule Template for Estimating. It’s not hard to do.

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Teamweek

AUGUST 1, 2022

Project cost estimation can be challenging, especially when the project is complicated and has many moving parts. In this guide, you’ll learn: What a project cost estimate is Why most project cost estimates are terrible How to create an accurate project estimate What to do after creating your project cost estimate.

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Estimate Project Cost Web Development Software Review 52

ActiveCollab

DECEMBER 18, 2023

Accurate estimation is an important part of Agile project management. In this blog article, we will explore the concept of T-shirt sizing as a method for estimation in Agile projects. So, let's dive in and discover the world of Agile estimation with T-shirt sizing! This sequence acknowledges that estimating larger.

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ProjectManager.com

MARCH 20, 2024

To help you once you break ground on your construction project, we’ll throw in some free construction project management templates on estimating, scheduling and budgeting. Construction Budget Confirm the construction budget and cost estimations so that all parties are clear on the allotted costs for materials, labor, overhead, etc.

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Rebel’s Guide to PM

APRIL 8, 2022

For example, imagine reviewing estimates from the project team. As you enter their estimated effort for tasks, the software prompts you: Claire’s estimates were 20% under on her last five projects. Would you like to add 20% to this estimate? This article first appeared at Rebel's Guide to Project Management.

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Kiron Bondale

FEBRUARY 18, 2018

Project managers need to be comfortable with different estimation techniques. Foundational project management courses will teach you about analogous, bottom-up, parametric and three-point estimating. Take a course covering agile delivery and you’ll learn about relative sizing techniques such as estimating poker or t-shirt sizing.

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Planview

JULY 29, 2021

This informative and easy-to-read article explores the basics of project budget tracking , including best practices and a 7-phase methodology. Tracking costs involves estimating budgets, establishing controls, measuring results, updating forecasts and continuous communication. Estimate Budgets. Estimate Budgets.

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Teamweek

JULY 29, 2022

“ I’ve done this a million times–let’s skip estimating just this once.”. You rush through the beginning estimates only to miss deadlines, blow budgets, and draw raised eyebrows from clients. In this guide we’ll cover: What are project estimation techniques? What are project estimation techniques? Cost estimations.

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MPUG

JULY 8, 2019

That is why duration estimation is one of the most important aspects of project management. In most real life scenarios, clients and mangers are reasonable, giving us some freedom to determine duration estimates for doing our tasks, but this can create other problems. The Estimation Problem. Can there be “exact estimates”?

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Epicflow Blog

MARCH 2, 2020

Written by Art Petty, this article proposes 8 tips for managers to become better decision-makers. In his article for Gallup, Adam Hickman reflects upon the right ways to promote employees to the position of a manager on a fair basis. The best way to estimate it is to have a face-to-face conversation.

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Wrike

OCTOBER 4, 2023

Accurate construction cost estimates are crucial for successful project planning and execution. Understanding the Basics of Construction Budgeting Accurate cost estimation is the cornerstone of construction budgeting. Moreover, accurate cost estimates play a crucial role in financial planning and control.

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ProjectManager.com

FEBRUARY 27, 2024

Using project planning templates can help you schedule tasks, estimate budgets and allocate resources. Being able to accurately estimate those costs and make a realistic project budget can make the difference between a healthy profit margin and losing money on the project. Without a plan, projects are in trouble.

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Planning Software Review Risk Management Budget 364

Epicflow Blog

JULY 5, 2022

Estimation of project cost is one of the core practices of the project initiation stage, which becomes the basis for the approved project budget. Therefore, a proper cost estimation is about finding a fine line in this complex process. What helps make cost estimation simple and efficient? How to estimate project cost .

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Rebel’s Guide to PM

FEBRUARY 5, 2024

In this article we’ll look at how to segment costs, how to find out the cost of things, and then how to structure your budget. If you are planning a budget for a project proposal i.e. pitching to someone else for them to secure your services to deliver a piece of work, then read this article about preparing a budget for a proposal.

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Teamweek

JULY 29, 2022

Inaccurate time estimation is the cause of 25% of failed projects. Learning how to estimate time for a project is tricky, but critical to its success. In this guide we’ll go over: What is time estimating in project management? Why is estimating time for tasks important? What is time estimating in project management?

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ProjectManager.com

MARCH 8, 2024

The RFQ asks how a vendor or contractor should handle a specific aspect of a project, from cost estimation to work descriptions. Project Budget Template Construction projects cost money and the more accurate your estimate of those costs, the safer your profit margin. Here are some of the construction-related articles we’ve posted.

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Rebel’s Guide to PM

FEBRUARY 17, 2022

It is a team-based estimating approach to work out the efforts involved for achieving business goals. At first all our employees were working from the same office, so usually we arranged our estimation sessions in the meeting room and used ScrumTime app , which is just a set of planning poker cards that you have on your mobile device.

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Rebel’s Guide to PM

APRIL 2, 2023

Data about how far off the original estimates were is needed to make accurate forecasts. This includes validating all the estimates and checking how people arrived at them because it helps you produce an accurate forecast for program completion. This article first appeared at Rebel's Guide to Project Management

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ProjectManager.com

MARCH 14, 2024

Estimate Resources Resources are the people, equipment and materials you need to complete the project. To ensure you have what you need when you need it and those costs align with your budget, estimate the resources necessary to complete the project. This will inform your schedule and budget. This will inform your schedule and budget.

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Scrum.org

FEBRUARY 26, 2024

This article was first published in the AskScrum.com newsletter. Subscribe to AskScrum.com to be the first to receive articles like this. Helps the Team Forecast : Regular refinement helps in better sizing of work items and estimating their complexity and effort required, which leads to more effective planning and better forecasting.

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Rebel’s Guide to PM

MARCH 18, 2021

In this article we’ll look at the types of artifacts in project management, typical documents for each type. Artifacts are categorized in the PMBOK® Guide – 7 th edition into 9 different types and that’s what this article is going to look at. The article will be updated in due course. What is an artifact?

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Scrum.org

JANUARY 29, 2024

See our article What is Iterative, Incremental Delivery? In this article, we'll explore - and debunk! Objection: "We can't accurately estimate delivery timelines with incremental delivery." Explanation: Traditional project management often struggles with accurate timeline estimations.

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Rebel’s Guide to PM

MAY 24, 2022

Here are some cost-per-meeting examples: #1 : A company with 25,000 employees in which each employee attends 100 meetings per year (2 meetings per week) at an estimated cost of $500 per meeting. Total meetings = 2,500,000 Estimated cost per meeting = $500 TOTAL MEETING COST PER YEAR = $1,250,000,000 (over 1 BILLION!). #2

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Scrum.org

JANUARY 31, 2024

4. Sizing: Accurately sizing the work or estimating the complexity of each backlog item enables better ordering and planning. By fostering collaboration, clarity, and adaptability, Product Backlog refinement helps teams prioritise effectively, estimate work more accurately, and continuously improve the product.

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Rebel’s Guide to PM

MARCH 13, 2020

This is a guest article by author Edoardo Binda Zane. Scroll to the bottom to download this article as a handy PDF so you can keep it for reference as you create your proposal. In this article, I will show you exactly how to do that. Not only that: you need to estimate who will do the work. Step 3: Estimate Labour Costs.

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Wrike

OCTOBER 19, 2020

Project estimation techniques help project managers accurately estimate essential elements, such as cost and scope , within their projects. These estimation techniques allow PMs to provide better forecasts to clients and more accurately budget the funds and resources they need for project success. .

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Wrike

FEBRUARY 16, 2022

Look no further than bottom-up estimating. Bottom-up estimating in project management is a method of estimating project duration or cost by aggregating the estimates of the lower-level components of the Work Breakdown Structure (WBS). What is bottom-up estimating? How accurate is the bottom-up estimation technique?

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Proofhub

SEPTEMBER 30, 2019

Best Time Management Articles That Are Loved: Reviewed And Ranked Managing time is of utmost importance to be able to conduct projects effectively. So here I’ve curated a list of best time-management articles that are insightful and you should follow to have the best tips. Bad at Time Management? Check this ou t?—?a

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Rebel’s Guide to PM

MAY 3, 2022

In this article, you’ll learn about 20 things to include in a project plan. Estimating assumptions and methods. Record how you are going to create your estimates for the project (time and money) and note any assumptions. If you have company-approved estimating techniques, note which ones you are going to use.

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