Analogous and Parametric Estimation

project estimation

Project Estimation Techniques Project Estimation is one of the most important part of project management. Good Project Estimation is cardinal for the success of a project. Project Estimation Techniques are covered under both Time Management and Cost Management Knowledge Areas of PMBOK® Guide. The Project Estimation Techniques described in PMBOK® Guide are universally applicable to […]

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A project is scheduled to FAIL

Failure

A project is scheduled to FAIL from start. This is a very strong statement albeit true. I have noticed this phenomenon many times during my experience. Let me explain. Project Managers rarely understand good scheduling concepts/techniques. Even if they understand, good concepts/techniques are rarely used while developing project schedule. What are good scheduling concepts/techniques? These […]

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How to use PERT, CPM and Standard Deviation Together?

pert cpm

PERT, CPM and Standard Deviation are Related Concepts! What is Critical Path Method (CPM)? Critical Path is the Longest Path in the Project Network. Critical Path represents the Shortest Possible Duration of the project. Critical Path can be determined by applying Critical Path Method (CPM) on the Project Network. How can Critical Path be “Longest” […]

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3-Point Estimate is Different From PERT…

PERT

What is PERT and 3-point Estimate? Estimation is one of the most basic concepts of Project Management. In fact poor and improper estimation is one of the main causes of challenged projects. There are many ways to Estimate. Some of these estimation techniques are specific to an industrial domain like software size estimation techniques. While […]

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Scientific Estimation

This is a follow-up post of my previous post 8 ways to meet budget in Fixed Price Projects. We can successfully execute and deliver the project within specified time and budget by estimating the size of the project scientifically. There are upteen estimation techniques and they are different for different industries. And within a industry they […]

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