Project Management for IT-Related Projects, 3rd Edition

6 ESTIMATING

LEARNING OUTCOMES

When you have completed this chapter you should be able to demonstrate an understanding of the following:

• the effects of over- and under-estimating;

• effort versus duration;

• the relationship between effort and cost;

• estimates and targets;

• use of expert judgement, including its advantages and disadvantages;

• the Delphi approach;

• top-down estimating;

• bottom-up estimating;

• the use of analogy in estimating.

6.1 INTRODUCTION

In Chapter 2, we explained how to draw up a plan for a project. This involved allocating an estimated duration to each of the activities to be carried out. This allowed us to calculate the overall duration of the project and to identify when we would need the services of individuals ...