This article talks about means of estimating time in Project management….
Estimating time in project management has to do with the process of finding out the exact time that it will take to perform a particular task in project management. In my previous article, I have talked about some of the methods of estimating time in Project management. In this article, I want to talk about five more ways by which we can estimate time in Project Management. Follow me as we look at this together.
One other way of identifying time or duration in Project management is to quantify the work that needs to be done in terms of the estimated hours of labour that will be needed, the number of customers to be served .
When you identify the works the work that needed to be done, you will be able to add this together and come up with a duration estimate. This will help you to know how long it will take to acheive a particular project objective.
Use of resource requirement when estimating time
In estimating time in project management, there is also the need for you to understand the requirements and capabilities of each of the resource that you need for the project. You need to ask which category of people will be assigned to that particular activity.
The next question can now be how will the skills of the assigned staffs affect the duration estimates as well.
How to use appropriate estimation when estimating time
Also, in estimating time in project management, there is the need for you to understand the appropriate estimation technique to use for the project. You need to ask how early the estimation will take place. Is there any historical record available for the estimation? If you notice that there is no adequate past record for the estimation, you need to consult a Subject Matter Expert.
You need to need to use quantitatively based duration to estimate activities, ask the estimators for the best case , most likely and the work case duration.
Use of constraint modification when estimating time
There is the need for you to modify the constraints and assumptions from the other planning process. There are some assumptions that you made earlier in the project. You need to find out if the assumptions are still true or not. If you assume that the exchange rate is still the same as it is. You need to find out whether it has not increased or not.
Use of estimation accuracy when estimating time
There is the need for you to understand and confirm the accuracy of your proposed estimates . There are some questions that you need to ask. What is the probability associated with this estimate ? What was this estimate based upon ? Are there any risks associated with this estimate ? All this need to be asked in order to know whether you have really reached the final estimation for your project.