Easily Estimate Projects and Products from Pluralsight

Estimating and forecasting don’t have to be time-consuming or difficult. This course will teach you how to use Microsoft Excel and a freely licensed estimation technique called Statistical PERT to easily estimate your projects and products.

Have you ever had a difficult time creating a project schedule or budget or been unsure how to forecast when new features will be ready for your agile-developed product? If so, this is the perfect course for you. In this course, Easily Estimate Projects and Products, you will learn how to easily create estimates for any uncertainty that has common, bell-shaped risk characteristics, like how much a project will cost or how long it will take to develop features on your product backlog. First, you’ll learn the difference between estimates, predictions, and forecasts and why forecasts are superior to predictions. Next, you'll explore how to easily create probabilistic estimates using Statistical PERT. Finally, you’ll discover how Statistical PERT models your project and product uncertainties using the normal probability distribution curve. When you’re finished with this course, you'll not only know how to use Statistical PERT to confidently estimate your project and product uncertainties, but you'll know how to modify Statistical PERT to create even better forecasts in the future. Software required: Microsoft Excel 2010 or later.

What's inside

Syllabus

Course Overview

Why Do You Estimate Anything?

Predicting vs. Forecasting (And Why Forecasting Is Better)

Introducing Statistical PERT Normal Edition

Using Statistical PERT

Understanding a Statistical PERT Template

Modifying a Statistical PERT Template

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Covers Statistical PERT, an estimation technique essential for project managers in multiple industries

Designed for professionals seeking to enhance their project estimation and forecasting skills

Taught by experienced instructors, William Davis, adding credibility to the course content

Emphasizes the importance of forecasting over prediction, providing valuable insights for accurate project planning

Suitable for both beginners and intermediate learners seeking to develop their project estimation capabilities

Requires Microsoft Excel 2010 or later, which may not be accessible to all learners

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 Easily Estimate Projects and Products with these activities:

Using Microsoft Excel

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Brushing up on the basics of Excel can help you make the most of the tools that Statistical PERT offers.

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Reviewing spreadsheet fundamentals (e.g. formulas, functions, formatting, and charts).
Practicing data management skills (e.g. importing, cleaning, and organizing data).
Taking a short tutorial or refresher course on Excel basics.

Follow a Tutorial on Statistical PERT

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Following a tutorial will help you to learn the basics of Statistical PERT. You can find many tutorials online or on Pluralsight.

Browse courses on Statistical PERT

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Search for a tutorial on Statistical PERT.
Watch or read the tutorial.
Try out the examples in the tutorial.

Review Excel Basics

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Review the basics of Excel, including data entry, formatting, and formulas, to ensure a solid foundation for the course.

Browse courses on Excel

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Open an Excel workbook and familiarize yourself with the interface.
Create a simple spreadsheet with data, such as a budget or a to-do list.
Apply basic formatting to cells, such as changing the font, color, and alignment.
Use simple formulas to perform calculations, such as summing up a column of numbers.

Eight other activities

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Review Quantitative Methods For Business

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Review the principles of probability and statistical distributions as they are covered in this text to improve your understanding of the material in this course.

View Essentials of Modern Business Statistics with... on Amazon

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Read the preface and introductory chapters.
Review the chapter on probability.
Review the chapter on statistical distributions.

Explore Statistical PERT

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Follow online tutorials or documentation to gain a deeper understanding of Statistical PERT and its applications in project estimation.

Browse courses on Statistical PERT

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Find reputable tutorials or documentation on Statistical PERT.
Go through the tutorial, taking notes and practicing the concepts.
Apply what you've learned to a small project to gain hands-on experience.

Practice Using the Statistical PERT Template

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The Statistical PERT Template on Pluralsight is an Excel spreadsheet that makes it easy for you to create estimates. Practice using the template to get comfortable with how it works.

Browse courses on Statistical PERT

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Download the Statistical PERT Template from Pluralsight.
Open the template in Microsoft Excel.
Enter some sample data into the template.
Review the results of the template.

Discuss Project Estimation Techniques

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Engage with peers to discuss various project estimation techniques, including Statistical PERT, and share insights and experiences.

Browse courses on Project Estimation

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Find a peer group or study buddy.
Schedule regular meetings to discuss project estimation topics.
Share knowledge, ask questions, and provide constructive feedback.

Estimate Project Durations

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Practice estimating project durations using Statistical PERT by working through examples and problems.

Browse courses on Project Estimation

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Gather data on similar projects or tasks.
Estimate the mean, optimistic, and pessimistic time for each task.
Calculate the expected duration and variance using Statistical PERT formulas.
Analyze the results and identify potential risks and opportunities.

Create a Presentation on Statistical PERT

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Creating a presentation on Statistical PERT will help you to solidify your understanding of the material. You can present your presentation to your classmates or colleagues.

Browse courses on Statistical PERT

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Write an outline for your presentation.
Create slides for your presentation.
Practice your presentation.
Present your presentation.

Estimate a Project Using Statistical PERT

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Apply the knowledge gained in the course by creating a project estimation using Statistical PERT for a real-life project or scenario.

Browse courses on Project Estimation

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Define the project scope and identify the tasks involved.
Estimate the mean, optimistic, and pessimistic time for each task.
Use Statistical PERT formulas to calculate the expected duration and variance.
Create a written report or presentation summarizing your findings.

Estimate a Project Using Statistical PERT

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Estimating a project using Statistical PERT will help you to apply the concepts that you have learned in this course. You can estimate a project that you are working on or a hypothetical project.

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Define the scope of your project.
Identify the activities that need to be completed.
Estimate the duration of each activity.
Create a project schedule.
Estimate the budget for your project.

Career center

Learners who complete Easily Estimate Projects and Products will develop knowledge and skills that may be useful to these careers:

Project Manager

Project Managers lead teams in planning, organizing, and executing projects. They ensure that projects are completed on time, within budget, and to the required quality standards. The Easily Estimate Projects and Products course can help Project Managers develop the skills they need to create accurate estimates for their projects. The course teaches how to use Microsoft Excel and a freely licensed estimation technique called Statistical PERT to easily estimate project costs, timelines, and risks. This can help Project Managers make more informed decisions about how to allocate resources and manage their projects.

See salaries and explore the career path for Project Manager

Product Manager

Product Managers are responsible for the development and management of products. They work with engineers, designers, and marketers to bring products to market and ensure that they meet the needs of customers. The Easily Estimate Projects and Products course can help Product Managers develop the skills they need to forecast the demand for their products and to estimate the costs and timelines of product development. This can help Product Managers make more informed decisions about how to allocate resources and manage their products.

See salaries and explore the career path for Product Manager

Business Analyst

Business Analysts help organizations to improve their business processes and systems. They work with stakeholders to understand their needs and to develop solutions that meet those needs. The Easily Estimate Projects and Products course can help Business Analysts develop the skills they need to estimate the costs and benefits of business improvement initiatives. This can help Business Analysts make more informed decisions about which initiatives to pursue.

See salaries and explore the career path for Business Analyst

Financial Analyst

Financial Analysts help businesses to make informed financial decisions. They analyze financial data and trends to make recommendations about investments, funding, and other financial matters. The Easily Estimate Projects and Products course can help Financial Analysts develop the skills they need to forecast financial performance and to estimate the risks associated with different financial decisions. This can help Financial Analysts make more informed decisions about how to allocate resources and manage their investments.

See salaries and explore the career path for Financial Analyst

Risk Manager

Risk Managers help organizations to identify, assess, and mitigate risks. They work with stakeholders to develop risk management plans and to implement measures to reduce the likelihood and impact of risks. The Easily Estimate Projects and Products course can help Risk Managers develop the skills they need to estimate the risks associated with projects and products. This can help Risk Managers make more informed decisions about how to allocate resources and manage risks.

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Actuary

Actuaries use mathematical and statistical techniques to assess and manage financial risks. They work with insurance companies, pension funds, and other financial institutions to develop products and strategies that protect against financial risks. The Easily Estimate Projects and Products course can help Actuaries develop the skills they need to estimate the probability and impact of financial risks. This can help Actuaries make more informed decisions about how to allocate resources and manage risks.

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Data Analyst

Data Analysts collect, analyze, and interpret data to help businesses make informed decisions. They work with large datasets to identify trends, patterns, and insights that can be used to improve business performance. The Easily Estimate Projects and Products course can help Data Analysts develop the skills they need to estimate the costs and benefits of data analysis projects. This can help Data Analysts make more informed decisions about which projects to pursue and how to allocate resources.

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Software Engineer

Software Engineers design, develop, and maintain software applications. They work with users to understand their needs and to develop software solutions that meet those needs. The Easily Estimate Projects and Products course can help Software Engineers develop the skills they need to estimate the costs and timelines of software development projects. This can help Software Engineers make more informed decisions about how to allocate resources and manage their projects.

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Quantitative Analyst

Quantitative Analysts use mathematical and statistical techniques to analyze financial data. They work with investment firms, hedge funds, and other financial institutions to develop trading strategies and to make investment decisions. The Easily Estimate Projects and Products course can help Quantitative Analysts develop the skills they need to estimate the risk and return of investments. This can help Quantitative Analysts make more informed decisions about which investments to pursue and how to allocate resources.

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Operations Research Analyst

Operations Research Analysts use mathematical and statistical techniques to solve business problems. They work with businesses to improve their operations and to make more efficient use of resources. The Easily Estimate Projects and Products course can help Operations Research Analysts develop the skills they need to estimate the costs and benefits of operations research projects. This can help Operations Research Analysts make more informed decisions about which projects to pursue and how to allocate resources.

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Statistician

Statisticians collect, analyze, and interpret data to help businesses make informed decisions. They work with large datasets to identify trends, patterns, and insights that can be used to improve business performance. The Easily Estimate Projects and Products course can help Statisticians develop the skills they need to estimate the costs and benefits of statistical analysis projects. This can help Statisticians make more informed decisions about which projects to pursue and how to allocate resources.

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Economist

Economists study the production, distribution, and consumption of goods and services. They work with governments, businesses, and other organizations to develop economic policies and to forecast economic trends. The Easily Estimate Projects and Products course can help Economists develop the skills they need to estimate the costs and benefits of economic policies. This can help Economists make more informed decisions about which policies to pursue and how to allocate resources.

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Market Researcher

Market Researchers study the market for goods and services to help businesses make informed marketing decisions. They work with businesses to identify target markets, to develop marketing strategies, and to measure the effectiveness of marketing campaigns. The Easily Estimate Projects and Products course can help Market Researchers develop the skills they need to estimate the costs and benefits of market research projects. This can help Market Researchers make more informed decisions about which projects to pursue and how to allocate resources.

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Financial Planner

Financial Planners help individuals and families to plan for their financial future. They work with clients to develop financial plans that meet their individual needs and goals. The Easily Estimate Projects and Products course may be useful for Financial Planners who want to develop the skills they need to estimate the costs and benefits of financial planning services. This can help Financial Planners make more informed decisions about which services to offer and how to price those services.

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Budget Analyst

Budget Analysts help organizations to develop and manage their budgets. They work with stakeholders to understand their needs and to develop budgets that meet those needs. The Easily Estimate Projects and Products course may be useful for Budget Analysts who want to develop the skills they need to estimate the costs and benefits of budget initiatives. This can help Budget Analysts make more informed decisions about which initiatives to pursue and how to allocate resources.

See salaries and explore the career path for Budget Analyst