Read the case study “The Estimating Problem” on page 734 and then answer the questions on page 735.
The primary post should be at least 300 words in length. Your second postings can comment to his or her original post. Secondary posts must be at least 150 words in length
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- How many different estimating techniques were discussed in this case?
There are two estimates:
- Three-point estimate: it is a tool that organization often use to help increase the accuracy of the cost and time estimates. There are 3 parts included: optimistic estimate, pessimistic estimate and the most likely estimate.
- Triangular Distribution: it is the most common technique which is often used in the project activities that uses the experiences from last project to implement in the current project (1).
2. If each estimate is different, how does a project manager decide that one estimate is better than another?
In order to make the best estimate which is most close to the situation, the experiences of the manager is needed. The project manager needs to consider the size of the project, the available resources which can be used in this project, the amount of work effort which is necessary, and the complexity of the project. The project can use the analogy estimate if the manager has the experience of similar project which he can use to estimate the current project (Stepanov, A. 2019). If overall, the project manager doesnâ€™t have any experience, then three-point estimate can be used to make a closest estimate.
3. If you were the project manager, which estimate would you use?
If I am the project manager, I will consider using the analogy estimation and with the help of the three points estimation. In this situation, Barbaraâ€™s beyond experience is a great example for the current project. There are advantages for using analogy estimation only because the time taken for making the estimation is considerably less since I have experience. However, it is always good to think the most optimistic as well as pessimistic estimate to know what is the best and worst case. And for me, itâ€™s always better to consider all the possibilities in the beginning rather than being regret later.
- 5 Methods of Project Estimation. (2019, May 23). Retrieved from https://www.liquidplanner.com/blog/5-methods-of-pr…
- Stepanov, A. (2019, February 14). Project Estimation Techniques for Greater Management. Retrieved from https://blog.ganttpro.com/en/project-estimation-te…