Cost Estimation for Projects: How to Estimate Accurately

ProjectManager.com

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.

Ask a PM: How to Get Proper Estimates

LiquidPlanner

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.

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Time Estimation for Project Managers: Tips & Techniques

ProjectManager.com

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.

How To Be An Estimating Superhero

Girl's Guide to PM

A statistical model for estimating isn’t normally something I’d put in the ‘make my job easy’ box, but I might just have found one that works. What if you want an estimate that is, say, 75% reliable? PERT can’t give you those kinds of estimates. How reliable is this estimate?”.

Software Estimating Resources

Herding Cats

This blog page is dedicated to the resources used to estimate software-intensive systems using traditional and agile development methods. COSMIC Software Estimation Approach,” Alain Abran, ICEAA Workshop, Portland Oregon, June 6?9, Comparative Analysis of Software Cost ?

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?

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.

Software Review: Vizzlo [2016]

Girl's Guide to PM

How Software Reviews Happen. This is how the software review process normally goes for me. Software company: We’ve got a really cool product we’d like you to review. Software company: So will you review it? Software Review: iMindQ 4.1 Software

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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.

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.

Software Review: Roadmap Planner [2017]

Girl's Guide to PM

The software comes with templates so you don’t have to create from scratch unless you want to. I tried the software on my iPad and frankly it wasn’t that easy to create a nice looking roadmap using my fingers as input devices. Software review: Viewpath Express Viewpath 2.0

2017 314

Software Review: Roadmap Planner [2017]

Girl's Guide to PM

The software comes with templates so you don’t have to create from scratch unless you want to. I tried the software on my iPad and frankly it wasn’t that easy to create a nice looking roadmap using my fingers as input devices. Software review: Viewpath Express Viewpath 2.0

2017 286

How Does Probabilistic Estimation Reduce Project Uncertainty?

LiquidPlanner

When you replace fixed-date deterministic scheduling with probabilistic estimations, you’ve got a whole new ball game. Probabilistic estimation is one of the reasons LiquidPlanner is the most realistic project management tool in the world.

Best Resource Management Software of 2020

ProjectManager.com

What is Resource Management Software? Resource management software is a tool that is used by organizations balance their resources and their capacity. The following are a handful of the best resource management software currently available. The software has limited features.

2020 283

Why Johnny Can't Estimate?

Herding Cats

I work in a domain where engineered systems are developed for complex software-intensive system of systems. 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. Generating accurate and precise estimates is straightforward.

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.

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.

Estimating Resources

Herding Cats

There's a never-ending opportunity to learn how to estimate in the presence of uncertainty. When you hear that estimates are a waste (we'd rather be coding), estimates are fiction, we're bad at estimating, and the plethora of other excuses for not learning how to estimate, ask if that person has done the minimal homework to learn how to estimate needed to make decisions in the presence of uncertainty found on all software development projects. .

How to Fund a Software Development Project

ProjectManager.com

A critical success factor for a software development project is how it is funded. In this blog I’ll explore several common options for funding software development projects. Many stakeholders will focus on the lower end of the estimate range and thereby have unrealistic expectations.

2019 313

Software Review: ProjectManager.com [2016]

Girl's Guide to PM

Time to revisit the software and see what has changed. The company have also made huge improvements with software integration and as well as being compatible with the Microsoft suite and Google Apps they have also introduced integrations via Zapier. Better Collaboration Software

2016 226

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.

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.

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 Estimate Any Software Problem

Herding Cats

ways to make decisions with No Estimates. Uncertainty of course is present in all software development work both reducible and irreducible uncertainty. 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? . An estimate is.

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

Why Johnny Can't Estimate? (Update)

Herding Cats

I work in a domain where engineered systems are developed for complex software-intensive system of systems. There is a 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, experience, and skill are needed. To make decisions in these conditions, estimates are required.

Cost Estimating Assessment Criteria

Herding Cats

I'm working an Implementation Review (IR) of a major space flight vehilce, that includes Software Intensive System of Systems. . 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. Estimate based on historical record of comparable p[rograms.

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.

Quote of the Day - Estimating Software Costs

Herding Cats

In extensive research of over 20,000 software development projects spanning 18 years, it is found that more projects are doomed from poor cost and schedule estimates then they ever are from technical, political, or development team problems.

Webinar Recap: Analogous and Parametric Estimating Schedule Template

MPUG

Please find below a transcription of the audio portion of Oliver Gildersleeve’s Analogous and Parametric Estimating Schedule Template webinar being provided by MPUG for the convenience of our members. The new schedule template covers both analogous and parametric estimating features.

2020 52

Best Construction Project Management Software of 2020

ProjectManager.com

Smaller construction projects need construction project management software, and bigger ones definitely require the kind of control that only a PM tool can provide. If you’re going to manage a construction project, you want project management software that is robust and dynamic.

2020 203

Software Review: BusiBI Project Manager 2016 v5.7

Girl's Guide to PM

You'll also like: Software Review: Project Viewer for Primavera [2016] This article was updated with minor amends on 27 March 2016. Software review: Simplestimate [2016] Find out more about how to make estimating simple with this software review of Simplestimate.

2016 257

Estimating on Non-Trivial Software Projects

Herding Cats

A nice conversation on twitter about estimates on software brought up the topic of estimates as commitments. The #NoEstimates advocates see estimates as making commitments. Yes, commitments are made when we estimate. I have an 80% confidence (an estimate) I can deliver what you need on or before September 15 (an estimate), at or below $15,000.oo (an estimate) with a 15% error band (an estimate). . Estimates are not needed.

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 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?

Estimating the Risk

Herding Cats

The idea of risk and its management and handling is a critical success factor for all software development. Peter Drucker (1975) Management (From The Principles of Software Engineering , Chapter 6, Tom Glib, 1988). 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.

Reality of the Value of Estimating

Herding Cats

Avoid software project horror stories - check the reality value of the estimate first from Harold van Heeringen. NoEstimates Estimating Governance

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.

51+ Best Project Management Software & Tools [Updated Oct 2019]

ProProfs Project Management

Project management software helps in not only managing multiple projects, but also streamline workflow and improve your teams performance exponentially. The best way to do so is by choosing the right project management software that offers all the features you need.

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Agile Estimating Methods and Impact on Project Development Performance Index

Herding Cats

The presentation " Quantifying the Impact of Agile Practices ," Larry MacCherone at the RallyOn 2013 Conference, presents some results on estimating impacts. The Software Development Performance Index (SDPI) scale on the left ranges - by eyeball measurement - from 46 to 55. Estimatin