4Estimating the Activities


Learning Objectives

By the end of this chapter, you should be able to:

• Estimate the time and cost needed to complete each of the activities in a project.

• Describe various estimating methods.

• Explain why estimates are not always precise.

• Describe the three basic types of contracts and explain when to use each.


A novice project manager might believe it a waste of time to spend much effort estimating. However, experienced project managers recognize the importance of estimating as precisely as possible, using the best estimating methods. For this reason, it is preferable to have estimates ...

Get Successful Project Management, Third Edition now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.