Project Estimating

Estimating can be regarded as the single most important skill required in planning a project because it affects everything else! Think about it. A bad duration estimate adversely affects the schedule, the cost, resource availability, cash-flow, team morale and client confidence.

This course emphasises a formal and rational approach toward estimating which includes careful identification of relevant input factors, simple calculations and a commitment to document so that we can learn from the past. The training will arm participants with tools and techniques with which they can face even tough estimating problems with confidence.

Learning Outcomes

• Explain the problems inherent in estimating
• Identify relevant influences
• Build estimating models
• Conduct proper error analysis
• Use PERT methods appropriately
• Locate Project Sensitivities
• Incorporate Risk

Course Outline

• What is an Estimate?
• The Estimate as a Calculation
• Task & Project Estimates
• Building Models
• Top-Down Analysis
• Simulation Methods
• The PERT Method
• Sensitivity Analysis
• Error Analysis
• Estimation and Review

Target Audience

Project Managers and Team Leaders who wish to improve skills in an area that is responsible for 80% of project failure.