Symptom: People don't know how to make accurate estimates, and their estimates don't seem to be improving over time.
Project estimation is a complex process. It must take into account every task within a project, and estimates of the organization's productivity at those tasks.
If the organization is not disciplined in the way in which it forecasts project costs, estimates may not take into account all of the necessary factors. Or, people may estimate their time under the most optimistic circumstances. They may forget other distractions to their time, or complications that may arise within a project.
As a result, their estimates may be so optimistic that they are never met. Then, the organization will be seen as failing to meet its commitments.
Doing a good job of estimation requires a formal method. Methodology has a number of advantages. It provides a checklist to be sure project leaders have thought of every step. It also becomes a repository for learning. People can update the method (once it's documented) as experience teaches them addition project steps or the level of effort required by each.
Estimates should be based on objective methods of project planning, and on productivity and cost data collected over time.
Root cause: Methods and tools, full-life-cycle cost estimating copyright 2024 N. Dean Meyer and Associates Inc. All rights reserved.
