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PM Crash Course™ for IT Professionals by Martha Young, Rita Mulcahy

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Chapter 10. Real-World Estimating

<feature><title>Goals of This Chapter</title>

Upon completion of this chapter, you should be able to:

<objective>

Identify challenges in accurately estimating time and cost

</objective>
<objective>

Articulate the value of accurate estimates

</objective>
<objective>

Identify numerous techniques to improve estimating

</objective>
<objective>

Explain three-point estimating

</objective>
<objective>

Explain Monte Carlo analysis

</objective>
</feature>

Estimating project requirements is a science. Accurate estimates are important because they are a key metric in determining if the project was a success.

Many project managers create time and cost estimates without much support for the process, primarily because the estimates they ...

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