How To Improve Schedule Estimates

Project Risk Coach

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.

Project Estimation: Master the Tools and Techniques

Online PM Courses

There are two reasons why Project Estimation is a big deal for project managers. And second, poor estimates are often a primary reason for a project cost or schedule over-run. What is Project Estimation? Why is Project Estimation so hard? The Estimation Knife Edge.

How to Actually Develop a Project Management Plan

Project Risk Coach

Featuring baselines, subsidiary plans, and other ancillary plans Do you know the 5Ps? Proper Planning Prevents Poor Performance. If this is true, why is it that some project managers put so little time in developing a project management plan? Subsidiary Plan Description 1.

Planning Poker – build accurate estimates for sprints on agile projects

The Digital Project Manager

Planning Poker is a great freemium agile estimation digital card game that enables a collaborative approach for consensus-driven estimating to guide sprint planning. The post Planning Poker – build accurate estimates for sprints on agile projects appeared first on The Digital Project Manager.

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?

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.

20 Things For Your Project Management Plan [With 3 Free Templates]

Girl's Guide to PM

Your project management plan is more than just a schedule of work. Although I am guilty of using ‘plan’ and ‘Gantt chart’ interchangeably. So what does go in the project management plan? Below you’ll find 20 things that make up a comprehensive project management plan.

Reasons to Estimate and Measure

Herding Cats

Estimating Software-Intensive Systems: Project, Products, and Processes , Richard D. Stutzke is a starting point for estimating software projects. I recommend it for anyone starting out in the estimating business all the way to seasoned veterans. Reasons to Estimate and Measure

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.

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.

Integrated Master Plan - Revisited

Herding Cats

Much has been written about the sources of risk and how to Manage in the Presence of Uncertainty (This briefing describes how risk is managed for each element of the Integrated Master Plan). . What About the Plan to Manage in the Presence of Uncertainty . Plans are Strategies.

Cost Estimating Assessment Criteria

Herding Cats

Here are the guidelines for a credible cost estimate (GAO-16-620). Details calculations performed and estimating methodology used. Estimate should lack bias; be neither overly conservative nor optimist. Regular updates cost estimate to reflect significant changes. Documented and explained variances between planned and actual costs. Estimate based on historical record of comparable p[rograms. Estimating techniques used appropriately.

Why Johnny Can't Estimate?

Herding Cats

Since all risk comes from uncertainty - reducible (Epistemic) and irreducible (Aleatory), estimating is a foundation of all we do. There is no discussion of the conjecture that estimates are a waste, estimates can't be done, estimates are evil, estimates must be stopped immediately. To be informed how to estimate in this broad range of domains, problems, and impacts - education, exp[erience, and skill are needed. Gow to avoid common estimating mistakes.

20 Things For Your Project Management Plan [With 3 Free Templates]

Girl's Guide to PM

Your project management plan is more than just a schedule of work. Although I am guilty of using ‘plan’ and ‘Gantt chart’ interchangeably. So what does go in the project management plan? Below you’ll find 20 things that make up a comprehensive project management plan.

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 Estimates are Needed for Success in the Nondeterministic Universe

Herding Cats

There's a fallacy used by some in the software development business, that estimates are not needed to make decisions in the presence of uncertainty. In our domain, the role I usually participate in is called Program Planning and Controls. NoEstimates Estimating Mathematics

Estimating is a Learned Skill

Herding Cats

Estimating is a learned skill, used for any purpose from every-day life to management of projects. When I left for the airport this morning to catch my flight to a customer site I estimated, given the conditions, how much time I need to get to my favorite parking spot at DIA. The same process for estimating is applied to multi-billion dollar projects we work. Here's some materials that provide the tools and processes needed to learn how to estimate.

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.

Progressive elaboration is the only sane approach to planning!

Kiron Bondale

Imagine that you are planning a multi-day road trip across the country to a town which you’ve never visited before. What are the odds that you will plan your trip down to the hour? The allure of detailed plans is compelling because they reinforce the illusion of certainty.

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Planning a Budget for a Proposal in 5 Easy Steps (+ Example)

Girl's Guide to PM

A proposal budget instead aims to convince the evaluator that reads your proposal that you have a solid grasp of your plan and that you are worthy of being trusted with funding. Not only that: you need to estimate who will do the work. Plan your person-days accordingly.

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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?

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?

Planning before Scheduling

Herding Cats

Planning is an unnatural process, it’s much more fun to get on with it. The real benefit of not planning is that failure comes as a complete surprise and is not preceded by months of worry. ‒ The mechanics of the Integrated Master Plan and Integrated Master Schedule looks like this.

Running Your First Sprint Planning Meeting

Backlog

Spring Planning is an integral part of setting your team up for a successful Sprint. Luckily, these meetings are fairly easy to master once you’ve perfected a few key planning processes. Estimating availability of the team. Before selecting items from the Backlog, the team is also responsible for estimating how much time each member has for Sprint-related work. Estimating time to complete each Backlog item. Backlog Agile methodology Scrum Sprint Planning

Project Management Basics: 6 Steps to a Foolproof Project Plan

Wrike

When it comes to planning your very first project , you may not know exactly where to begin. Follow these six steps to create a foolproof project plan and lead your team with confidence. Next, estimate due dates for each deliverable in your project plan.

Project Planning- A complete tutorial

Binfire

Meticulous project planning is something that anybody who wants to succeed in managing projects should strive for, but few really achieve it. If you make a list and in it you write 10 items that you plan to do in a day or a week, it is a good start but it is not good planning yet.

Tax Planning for PM Contractors in 2016

Arras People

Getting ahead and planning your tax in 2016 is vital, especially in an environment that is constantly evolving. Those who receive income from dividends are advised to renew and income plans with a tax planning specialist. The government estimate that this will lead to 95% of people not paying tax on interest gained from these savings. Contact Associate Services today about the services that can help to ensure your tax planning is as efficient as possible in 2016.

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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] Capabilities Based Planning. Risk is everywhere on projects.

Transport for London’s Signal Failure – £886m more than planned*

Ron Rosenhead

Optimistic planning bias strikes again? Horrible headlines and a horrible situation. The above costs come from a report published by Budget and Performance Committee of the London Assembly. Some of the statistics and comments in the report are astounding and some are below: · ….TfL

Your Guide to Accurately Estimating Projects

LiquidPlanner

Estimation is an invaluable tool for anticipating and managing project uncertainties. Accurate project estimates help identify cost and schedule requirements with relative precision, and reduce the risk of running out of time, resources, and budget during a project. Phased Estimating.

Planning is King

Herding Cats

There has been lots of buzz in the project management space lately about the benefits of planning. Planning is one of the Five Immutable Principles of project success. Planning tells us, in units of measure meaningful to the decision makers, what Done looks like. No Plan?

Closed Loop Control and Granularity of the Estimating Process

Herding Cats

The response to change rate ‒ how fast can you make corrective actions to the system to keep it on plan. The plan can be the temperature of the room. The estimate of Desired (or even contractual ) schedule, cost, or technical performance of the software project. The granularity of these estimates determining the dynamic behavior of the system ‒ the software project. NoEstimates Estimating Governance Mathematics Planning Principles

GAO Cost Estimating and Assessment Guide Applied to Agile

Herding Cats

The GAO Cost Estimating and Assessment Guide has 12 steps. Product Roadmap and Release Plan describe the needed capabilities to be delivered by the project. This is connected to the Financial Plan for earning back the investment of the development.

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. What's our plan to reach DONE as needed for the customer to receive the expected Value from our work? Anyone can construct a Plan.

Uncertainty creates Risk, Decisions in Presence of Uncertainty Requires Estimating

Herding Cats

Whenever we try to achieve an objective, there's always the chance that things will not go according to plan. When asked to make a decision or a choice in the presence of uncertainty, an estimate is needed, since the information needed to make an informed decision is not available. . Let's define what an estimate is. An estimate is not a guess, it is a value based on sampled data which has been adjusted using statistical estimation procedures.

10 Guidelines for Estimating Project Effort – Guest Post by Susanne Madsen

Celoxis

best practices Blog capacity planning PMO PPM Project Management Resource Management celoxis Guest Blog Online project management software project estimation project management best practices project management software sussane madsen web based project management toolMany projects start off on the wrong foot because the effort involved in delivering them has been underestimated.

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. .

Unravelling PI Planning

Digite

There is a quote introducing PI Planning content on the Scaled Agile Framework website. But if there is one common denominator between all SAFe implementations, then it has to be the PI Planning. So what is PI Planning? And what does the ‘PI’ in PI Planning mean?

Take Control of Your Project Plan Calendar

Wrike

Getting everything done on time and under budget calls for strategy and forethought, and that’s why you need to maintain a clear project plan calendar. While some leaders may opt for an Excel project plan template, that means they miss out on some major opportunities.

How to Estimate Any Software Problem

Herding Cats

ways to make decisions with No Estimates. can we make a decision in the presence of Uncertainty without making an estimate of the impact or outcome of that decision? What would be the evidence that we could make decisions in the presence of uncertanty without estimating the impacts and outcomes of those decisions? . The Myths of No Estimates and the busting of them is one purpose of this blog post. Before we start, let's look with the notion of estimation.