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Best Practices for Project Estimation

Michael Krasowski

Learn the fundamentals, basic tools, and agile techniques that can be used to enhance your project estimation skills.

This course will help you take the guess work out of estimating your projects. Are you afraid of making estimates? You are not alone. Do you know why making quality estimates and tracking actuals is so important? Learn the importance of accurate estimating and how that skill will help you define and manage your customers' expectations. Discover the difference between 'ideal time' and 'elapsed time,' and why your estimates need to encompass both. Learn the anatomy of an estimate along with lean and agile techniques to make your life easier. Come learn some great tools and techniques you can begin using your first day back on the job.

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Project Estimation Agile Techniques Estimation Fundamentals Lean Techniques Project Management Project Planning Risk Management

What's inside

Syllabus

Fundamentals of Estimation

Tools and Techniques: Part 1

Tools and Techniques: Part 2

Agile Estimation

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Read about what's good

what should give you pause

and possible dealbreakers

Explores agile techniques that are standard in industry

Emphasizes the importance of accurate estimating in project management

Provides a solid foundation for beginners in project estimation

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Reviews summary

Effective project estimation for professionals

According to learners, this course provides a solid and practical foundation in project estimation. Students frequently highlight its ability to demystify complex concepts like PERT and Monte Carlo, making them easy to understand and immediately applicable. The instructor's clear and engaging delivery is consistently praised. Many find the focus on agile estimation techniques and managing stakeholder expectations particularly valuable for real-world projects. While largely seen as a highly beneficial course for refining skills, some experienced professionals suggest it leans more towards introductory content, desiring greater depth in advanced strategies or specific software recommendations.

Provides valuable insights into agile estimation techniques.

"I particularly appreciated the focus on agile estimation techniques and how to apply them directly to my projects."

"Agile section was solid. Definitely good for those new to formal estimation or needing a refresh."

"The agile part was especially relevant for my current work."

Concepts are explained clearly, making estimation accessible.

"The instructor explained complex concepts like PERT and Monte Carlo simulations in a very understandable way."

"Excellent course! The instructor's delivery is clear and engaging. I learned so many practical techniques."

"It demystified project estimation for me. The 'elapsed time vs. ideal time' concept was particularly useful."

Learn immediately applicable tools and techniques.

"The tools and templates provided are immediately usable. Highly recommended for project managers and team leads looking to refine their estimating skills."

"I learned so many practical techniques to improve my project estimates... I now feel much more confident in providing realistic timelines and budgets."

"I immediately applied several concepts to my current project, with great success. The focus on practical application was the best part for me."

Some wished for more advanced strategies and specific software.

"I was hoping for more advanced strategies or specific software recommendations for estimation beyond the general concepts."

"I think the examples could be slightly more diverse to cover different industries, but overall, solid content."

"I wish there were more exercises or case studies to practice the techniques learned."

Foundational, great for new learners or a skills refresh.

"It felt a bit too introductory for someone with a few years of project experience. Still, a decent starting point for beginners."

"Honestly, I found this course somewhat basic... Might be better for absolute beginners."

"Good for those new to formal estimation or needing a refresh. I was looking for more depth and innovative approaches."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Best Practices for Project Estimation with these activities:

Estimate the time for everyday tasks

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Practice estimating time for everyday tasks to improve your foundational estimation skills.

Browse courses on Agile Techniques

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Choose a simple everyday task, such as preparing breakfast or going for a walk.
Estimate the time it will take to complete the task.
Compare your estimate to the actual time taken.
Reflect on your accuracy and identify areas for improvement.

Create a project estimation template

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Develop a customized project estimation template to streamline your estimation process.

Browse courses on Project Management

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Identify the essential components of a project estimate.
Create a template that includes these components.
Use your template to estimate a real project.
Refine your template based on feedback and experience.

Engage in peer review of project estimations

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Collaborate with peers to review and refine project estimations, enhancing your estimation accuracy and communication skills.

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Form a study group or connect with peers.
Exchange project estimation examples for review.
Provide constructive feedback on the estimations.
Discuss alternative approaches and identify areas for improvement.

Show all three activities

Career center

Learners who complete Best Practices for Project Estimation will develop knowledge and skills that may be useful to these careers:

Project Manager

Project Managers lead the overall planning, execution, and closure of projects. This includes everything from defining the project scope and goals to managing the budget and timeline. The course \"Best Practices for Project Estimation\" can help Project Managers develop the skills they need to accurately estimate the time, resources, and costs of their projects. This course also teaches Project Managers how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Project Manager

Software Development Manager

Software Development Managers are responsible for planning, coordinating, and overseeing the development of software products. This includes working with engineers and other team members to define the project scope, timeline, and budget. The course \"Best Practices for Project Estimation\" can help Software Development Managers develop the skills they need to accurately estimate the time, resources, and costs of their software development projects. This course also teaches Software Development Managers how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Software Development Manager

Product Manager

Product Managers are responsible for defining, planning, and launching new products. This includes working with engineers, designers, and other team members to define the product vision, roadmap, and budget. The course \"Best Practices for Project Estimation\" can help Product Managers develop the skills they need to accurately estimate the time, resources, and costs of their product development projects. This course also teaches Product Managers how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Product Manager

Consultant

Consultants provide advice and guidance to organizations on a variety of topics, including project management, business strategy, and information technology. The course \"Best Practices for Project Estimation\" can help Consultants develop the skills they need to accurately estimate the time, resources, and costs of their consulting projects. This course also teaches Consultants how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Consultant

Business Analyst

Business Analysts help organizations improve their business processes and systems. This includes working with stakeholders to identify and analyze business needs and developing solutions to meet those needs. The course \"Best Practices for Project Estimation\" can help Business Analysts develop the skills they need to accurately estimate the time, resources, and costs of their business analysis projects. This course also teaches Business Analysts how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Business Analyst

Systems Analyst

Systems Analysts help organizations design, develop, and implement new systems or improve existing systems. This includes working with stakeholders to identify and analyze system requirements and developing solutions to meet those requirements. The course \"Best Practices for Project Estimation\" can help Systems Analysts develop the skills they need to accurately estimate the time, resources, and costs of their systems analysis projects. This course also teaches Systems Analysts how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Systems Analyst

IT Project Manager

IT Project Managers lead the planning, execution, and closure of IT projects. This includes everything from defining the project scope and goals to managing the budget and timeline. The course \"Best Practices for Project Estimation\" can help IT Project Managers develop the skills they need to accurately estimate the time, resources, and costs of their IT projects. This course also teaches IT Project Managers how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for IT Project Manager

Operations Manager

Operations Managers are responsible for planning, coordinating, and overseeing the operations of an organization. This includes managing the budget, staff, and resources of the organization. The course \"Best Practices for Project Estimation\" can help Operations Managers develop the skills they need to accurately estimate the time, resources, and costs of their operations projects. This course also teaches Operations Managers how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Operations Manager

Quality Assurance Manager

Quality Assurance Managers are responsible for planning, coordinating, and overseeing the quality assurance of products and services. This includes working with engineers, designers, and other team members to define and implement quality standards. The course \"Best Practices for Project Estimation\" can help Quality Assurance Managers develop the skills they need to accurately estimate the time, resources, and costs of their quality assurance projects. This course also teaches Quality Assurance Managers how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Quality Assurance Manager

Risk Manager

Risk Managers are responsible for identifying, assessing, and managing risks for an organization. This includes working with stakeholders to identify and analyze risks and developing strategies to mitigate those risks. The course \"Best Practices for Project Estimation\" can help Risk Managers develop the skills they need to accurately estimate the time, resources, and costs of their risk management projects. This course also teaches Risk Managers how to track actuals and use Earned Value Analysis to identify and manage risks.

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Project Coordinator

Project Coordinators help Project Managers plan, execute, and close projects. This includes providing administrative and logistical support to the project team. The course \"Best Practices for Project Estimation\" can help Project Coordinators develop the skills they need to accurately estimate the time, resources, and costs of their projects. This course also teaches Project Coordinators how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Project Coordinator

Estimator

Estimators develop cost estimates for construction projects. This includes working with architects, engineers, and other team members to define the project scope and goals. The course \"Best Practices for Project Estimation\" can help Estimators develop the skills they need to accurately estimate the time, resources, and costs of their projects. This course also teaches Estimators how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Estimator

Scheduler

Schedulers develop and maintain project schedules. This includes working with Project Managers and other team members to define the project scope and goals. The course \"Best Practices for Project Estimation\" can help Schedulers develop the skills they need to accurately estimate the time, resources, and costs of their projects. This course also teaches Schedulers how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Scheduler

Cost Analyst

Cost Analysts develop and maintain cost estimates for projects. This includes working with Project Managers and other team members to define the project scope and goals. The course \"Best Practices for Project Estimation\" can help Cost Analysts develop the skills they need to accurately estimate the time, resources, and costs of their projects. This course also teaches Cost Analysts how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Cost Analyst

Project Control Analyst

Project Control Analysts help Project Managers track and control the progress of projects. This includes working with Project Managers and other team members to define the project scope and goals. The course \"Best Practices for Project Estimation\" can help Project Control Analysts develop the skills they need to accurately estimate the time, resources, and costs of their projects. This course also teaches Project Control Analysts how to track actuals and use Earned Value Analysis to identify and manage risks.

See salaries and explore the career path for Project Control Analyst

Reading list

We've selected ten books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Best Practices for Project Estimation.

Lean Startup: How Today's Entrepreneurs Use...

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Must-read for anyone who wants to learn about the lean startup methodology. It provides a step-by-step guide to building a successful startup, and it offers practical advice on how to validate your ideas, measure your progress, and pivot when necessary.

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Best Practices for Project Estimation

What's inside

Syllabus

Traffic lights

Save this course

Reviews summary

Effective project estimation for professionals

Activities

Career center

Reading list

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