Rebel’s Guide to PM

MARCH 10, 2022

In this article, I’ll explain what Estimate at Completion is for project managers, how to use it (because there are 4 different ways) and give you examples. Estimate at completion (EAC) in project management tells you how much the project will cost when the work is finished. What is the formula for estimate at completion?

Estimate 344

Estimate Budget Risk Management Planning 344

Kiron Bondale

APRIL 3, 2022

If you ever find yourself wanting to inject some energy into a cross-functional gathering of delivery staff and stakeholders, ask for their opinion on estimates. Relative sizing – this covered such techniques as story pointing, T-shirt sizing, affinity estimating and others.

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Estimate PMI Agile Governance 345

ProjectManager.com

JUNE 24, 2021

One of these formulas solves for Estimate at Completion — an important metric for monitoring a project budget. Keep reading to learn why to always calculate Estimate at Completion and exactly what this formula can do. What is Estimate at Completion (EAC)? Create more accurate cost estimates with powerful management software.

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Estimate Budget Project Cost Planning 308

Rebel’s Guide to PM

NOVEMBER 8, 2021

Frankly it’s too hot, but it has made me realize one thing: I am no good at estimating. In fact, I’ve always known that I’m not good at estimating. The only thing I can estimate is time. In this article I’ll share estimating techniques for schedules and budgets: the kind of things we need to know to get projects done.

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Estimate Budget PMO Project Cost 325

LiquidPlanner

NOVEMBER 1, 2018

How do you deal with a team that refuses to estimate how long tasks will take? Estimating can be done in several solid ways, and frankly, it sounds as if your colleagues don’t know how to estimate properly or are scared to give you the timescales that pop into their heads. It is difficult to estimate when the task is too big.

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Estimate Risk Management Budget Risk 602

ProjectManager.com

APRIL 27, 2021

It requires a construction estimate to ensure the most accurate findings. Create accurate estimates and keep your project under budget with ProjectManager.com’s Gantt charts. What Is a Construction Estimate? A construction estimate is used to forecast how much it will cost to build the structure in your project plan.

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Estimate Construction Budget Planning 418

ProjectManager.com

AUGUST 21, 2019

Good cost estimation is essential for keeping a project under budget. Many costs can appear over the life cycle of a project, and an accurate estimation method can be the difference between a successful plan and a failed one. Estimation, however, is easier said than done. An Overview of Cost Estimation.

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Estimate Project Cost Risk Management Budget 344

Scrum.org

APRIL 19, 2023

Here are some tips on how Scrum Masters can balance team psychology safety with management pressure on estimation: Build trust with the team Building trust is essential to team psychology safety. Emphasise the importance of allowing for uncertainty and adjustment during the Sprint instead of demanding precise estimates upfront.

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Estimate Agile SCRUM Consulting 197

Online PM Courses

JULY 25, 2022

Why is Project Estimation a big deal? It's very hard to do well & poor estimates are often a major reason for cost or schedule over-runs. The post Project Estimating Skills: How to Master Successful Project Estimation appeared first on OnlinePMCourses.

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Estimate PMI Agile Planning 165

ProjectManager.com

JULY 21, 2021

What Is Effort Estimation? In order to know a task’s LOE, you must practice something called effort estimation. Effort estimation is the process through which we approximate how much time, energy or money deliverables will demand so that we can rank this on a scale. Related: Free Project Estimate Template for Excel.

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Estimate Planning Energy Budget 448

ProjectManager.com

MAY 3, 2022

Construction estimating is one of the most important parts of landing a construction project. That’s why you need construction estimating software to make your forecast as accurate as possible. Making the decision to get construction estimating software is the easy part. What Is Construction Estimating?

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Project Risk Coach

MAY 3, 2021

Do you ever feel like the Lone Ranger when working on cost estimates? Let's explore how to engage your team members and subject matter experts to improve your cost estimates. So, let's look at three techniques to use with your teams: Brainstorming Delphi Technique Nominal Group Technique 3 Team Techniques to Improve Cost Estimates 1.

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Estimate Budget Risk Management Software 370

Rebel’s Guide to PM

JUNE 17, 2021

What is parametric estimation? Parametric estimating is a top-down form of project estimation that works for time, resource and cost estimates. It uses parameters (characteristics) to create estimates based on what you already know, so in that respect it’s useful for a project manager because it’s reliable.

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Estimate Project Cost Consulting Engineering 348

Online PM Courses

MAY 24, 2023

And it is starting to be used in project estimating, scheduling, and planning. The post How to Use Machine Learning in Project Estimating, Scheduling, & Planning appeared first on OnlinePMCourses. Machine learning is one form of Artificial Intelligence.

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Estimate Planning Software 158

Rebel’s Guide to PM

MARCH 14, 2021

What is a ROM estimate used for? A rough order of magnitude estimate is used to give you a very high level view of potential project costs. Ideally, you’d be able to provide a definitive estimate, carefully created from loads of input from subject matter experts and plenty of research on past projects and their budgets.

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Estimate PMO PMI Budget 412

ProjectManager.com

SEPTEMBER 26, 2019

The best a project manager can do is develop an accurate time estimate for how long it will take to satisfactorily complete the project. Time Estimation Matters. Looking into the future to determine how much time it will take complete project tasks allows for an estimation. They run from simple to the complex.

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Estimate PMI Planning 2011 336

Green Project Management

JANUARY 15, 2018

The post Sustainable Estimating appeared first on Delivering a better world, one project at a time. We tend to focus instead on measures of central tendency, and as a result we make some terrible mistakes, often with considerable practical import. Stephen Jay Gould, naturalist, […].

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Estimate Sustainability 454

LiquidPlanner

JANUARY 4, 2023

I my first 15 years, I used single-point estimation to build project schedules. The next ten years I used ranged estimations with traditional Gantt chart project scheduling software tools – this was better but cumbersome. Ranged estimation has been around since the introduction of PERT and the three-point estimation method.

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Estimate Risk Management Risk Executing 156

Scrum.org

APRIL 12, 2022

To get to an answer that provides meaningful information, your Scrum Team first needs to decide how to estimate. As the Product Owner, you need to take the data from the estimated Product Backlog items (PBIs) and choose how to forecast a delivery date. Three Ways to Estimate. Exact Estimation. It’s just how it sounds.

SCRUM 218

SCRUM Estimate Agile Closing 218

Project Risk Coach

JUNE 22, 2020

Poor estimates are often a major factor in these projects. So, let's look at 7 ways to improve project estimates. Define the project work One of the top reasons for poor estimates is poor project definition. Ask the experts to estimate the work It's a mistake for project managers to estimate the work.

Estimate 195

Estimate Risk Management Defining Risk 195

Kiron Bondale

OCTOBER 24, 2021

Estimates are guesses. I had also received similar estimates from two different technicians and both seemed very experienced. Remember the upper end of the original estimate range was an hour and a half. Given this, my expectations were set that I would make it home by noon to enjoy lunch at my usual time.

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Estimate Leadership Risk Process 194

Scrum.org

SEPTEMBER 20, 2021

TL; DR: Estimates Are Useful, Just Ditch the Numbers. Many people dislike estimating work items as estimates supposedly open the path to the misuse of velocity by the managers, reintroducing Taylorism, micro-management, and excessive reporting through the backdoor. Estimating Leading to Micro-Management; the Legacy of Taylorism.

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Estimate SCRUM Agile Risk Management 207

LiquidPlanner

JANUARY 12, 2023

The traditional method for estimating project work using single-point (or fixed) estimates has a few drawbacks: It’s hard to provide a single accurate estimate, especially for something new. People tend to provide estimates that are too optimistic because they don’t want to let you down. Tired of it?

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Estimate Monitoring Engineering Planning 147

Scrum.org

JANUARY 12, 2023

Scrum Guide 2020 replaced the word "estimation" with "sizing" to include different practices teams use to plan their work. Estimation can mean different things, such as story points or time-based estimates, which can limit and create the illusion that story points are an essential part of Scrum.

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SCRUM Estimate 2020 Planning 179

WorkOtter

FEBRUARY 28, 2023

Resource estimation is an integral part of project management that often gets overlooked. Here’s your guide to resource estimation in project management and other factors, such as resource costs. What Is Resource Estimation in Project Management? Do we have staff members who know how to estimate resources for a project?

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Estimate Risk Management SCRUM Budget 78

Online PM Courses

DECEMBER 14, 2022

Often, most important measure in Earned Value Management (EVM) is the Estimate at Completion (EAC). So, what is the Estimate at Completion? The post What is Estimate at Completion – EAC? Video appeared first on OnlinePMCourses.

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Estimate Project Cost 147

The Digital Project Manager

SEPTEMBER 28, 2022

Let’s talk about estimation. The project estimation process is the bane of existence for so many project managers. The post 4 Ways To Improve Your Project Estimation Process appeared first on The Digital Project Manager. It’s not just that it’s high-pressure, hurried, and mostly done off the sides of our desk.

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Estimate Process 177

Online PM Courses

MAY 9, 2022

One of the hardest tasks for Project Managers is Project Estimation: predicting the future, despite the uncertainty. The post Make Your Project Estimation More Reliable, Using the PERT Method appeared first on OnlinePMCourses. Meet the PERT method.

Estimate 158

Estimate Budget Planning 158

Growing Agile

MAY 12, 2022

Anyone who knows me knows I’m not a fan of estimation. Instead of that we should be listing what features we want in a backlog that is not estimated. These tasks can probably be estimated in some way to help the team know how much to pull in for that given iteration. That can come later. appeared first on Growing Agile.

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Estimate Agile Engineering Risk Management 114

LiquidPlanner

APRIL 16, 2022

Project estimation is hard. Faulty estimates mean missing deadlines and breaking budgets—two of the main symptoms of project failure. Being a skilled estimator is a crucial part of setting schedules, establishing budgets, managing resources and running a thriving team and business. Comparative or analogous estimation.

Estimate 158

Estimate Budget Software Process 158

Project Risk Coach

JUNE 11, 2018

Let's talk about the challenges of schedule estimates and three estimating techniques that can help us do a better job with our estimates. Lastly, we'll look at how to respond to future requests for estimates. Challenges With Schedule Estimates. During and after each project, compare your actuals to your estimates.

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Estimate Risk Management Initiating Executing 208

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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Musings on Project Management

JANUARY 29, 2016

Mike Cohn on estimating (from his email blasts): "Because I've written a book on estimating, people seem to think I estimate everything on my product backlog. I ask a team to estimate a product backlog item only when having the estimate will lead to actionably different behavior.

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Estimate Agile 218

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. . 5-point estimation.

SCRUM 146

SCRUM Estimate Agile Planning 146

Green Project Management

JANUARY 15, 2018

The post Challenges with Using PERT for Estimating appeared first on Delivering a better world, one project at a time. I am still surprised that with the number of project managers I meet who recommend this technique, which effectively puts the Flaw of Averages on steroids. This post is not specifically about sustainable change […].

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Estimate 2013 Sustainability 401

nTask

JUNE 8, 2021

Estimating projects is part and parcel of project management for any project. However, estimating projects with accuracy is not always so successful. In fact, many of the issues in project management can be traced back to failed attempts at estimating projects. Why Does Estimating Projects so Often go Wrong? Your project.

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Agilemania

DECEMBER 13, 2022

Agile estimation is one of the greatest instances of this. These estimating strategies are used to set the complete product, making it easier for the team to get through the product. Almost all Agile teams estimate and employ various estimating strategies, such as dividing complex items into smaller chunks.

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Estimate Agile SCRUM Lean 98