Chapter 10. Real-World Estimating

Goals of This Chapter

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

• Identify challenges in accurately estimating time and cost

• Articulate the value of accurate estimates

• Identify numerous techniques to improve estimating

• Explain three-point estimating

• Explain Monte Carlo analysis

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 have created in the past have been so unreliable. This chapter will help you prevent such problems.

First, take the time to describe ...

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