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10 Tips for Better Project Estimates

Make Project Delays and Operating in Crisis Mode a Thing of the Past with These 10 Tips for Better Project Estimates

10 Tips for Better Project EstimatesIn the recent Resource Management and Capacity Planning Benchmark Study, survey respondents overwhelmingly cited “poor estimation ability” as a leading cause of their project delays; continued crisis mode operation; resources being shifted around haphazardly; and other common business risks. If you find yourself in the same boat, you know this is something that must be addressed, but finding a solution to the problem may seem overwhelming.

I’m delighted to share with you this just released white paper by best-selling business author, Jerry Manas called, Bigger Than a Breadbox: 10 Tips for Better Project Estimates. The 2-part paper is a comprehensive and practical guide on improving your project estimates with advice you can apply within your organization.

Read an excerpt from the paper and download your copy now to begin making improvements to your project estimating process.

Tip #2: There’s More Than One Way to Manage Uncertainty (Traditional Agile Approaches)

“The traditional/waterfall approach to project planning sometimes employs a BDUF (Big Design Up Front) model, in which requirements and design elements are prepared early. In such cases, exhaustive estimates are expected once the project schedule is fleshed out. Even in traditional projects that use a “rolling wave” approach to planning, where each phase is planned in detail as it approaches; accurate phase-level estimates are typically expected.”

“Acclaimed software estimation expert Steve McConnell developed a concept called the ‘Cone of Uncertainty.’ In early project phases, the cone is wide (meaning there’s high uncertainty and variability in terms of estimate accuracy). As requirements are known and the scope is refined, and as development is completed and testing progresses, the cone of uncertainty narrows. The point of the Cone of Uncertainty model is to demonstrate the best-case accuracy at various stages of progress. The idea is that by examining and correcting the causes…”

Download your copy of Bigger Than a Breadbox: 10 Tips for Better Project Estimates.

I’d like to hear from you. Share the methods you’ve successfully used to improve your project estimates.

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Martha Garcia
Written By

Martha Garcia graduated from The University of Texas at Austin with a BS in Communication Studies. It was here that she developed an interest in corporate communication, specifically in the areas of change management within complex organizations as well as leadership and organizational behavior. Martha is responsible for working closely with thought leaders in the areas of IT and the PMO to develop compelling programs and content including informative webcasts and white papers for the IT PMO community.