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Practice Standard for Project Estimating by Project Management Institute

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CHAPTER 4

CREATE ESTIMATES

This chapter covers the Create Estimates stage. The objective of Create Estimates is to take the planning documents and other inputs and then use estimating techniques to create the project estimate for activity resources, activity durations, and costs. Note that this chapter will focus on the different types of estimating techniques and not on industry-specific tools or models.

This chapter includes the following sections:

4.1 Introduction

4.2 Inputs

4.3 Activities

4.4 Outputs

4.5 Considerations

4.6 Summary

4.1 Introduction

With the project estimating approach now determined and documented, estimates of resources, duration, and costs can be determined. As shown in Figure 4-1, the project estimating approach, along ...

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