Estimating Techniques
Estimating techniques are essential for predicting project costs, duration, and resource needs. From expert judgements to detailed analysis they provide the foundation for effective planning, budgeting, and scheduling and ensure projects are completed on time, within scope, and on budget, mitigating risks and guiding decision-making.
Technique Overview
Estimating Techniques Definition
Estimating techniques in project management refer to the methods and approaches used to predict the resources, time, and costs required to complete a project. These techniques, which include tools like analogous estimating, parametric modelling, and bottom-up analysis, enable project managers to develop accurate budgets and schedules. By applying these techniques, teams can better anticipate challenges, allocate resources efficiently, and set realistic expectations, ultimately guiding the project towards successful completion.
Estimating Techniques Description *
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Business Evidence
Strengths, weaknesses and examples of Estimating Techniques *
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Business Application
Implementation, success factors and measures of Estimating Techniques *
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Professional Tools
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Further Reading
Estimating Techniques web and print resources *
Estimating Techniques references (4 of up to 20) *
- Brown, S. (2014). The Delphi Method: A Guide to the Process. Sage Publications.
- Fleming, Q. W., & Koppelman, J. M. (2016). Estimating and Costing for Projects: A Practical Guide. Project Management Institute.
- Hill, G. (2018). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. John Wiley & Sons.
- Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. Wiley.
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