Estimation (project management)
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project management Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. T ...
(e.g., for
engineering Engineering is the use of scientific principles to design and build machines, structures, and other items, including bridges, tunnels, roads, vehicles, and buildings. The discipline of engineering encompasses a broad range of more speciali ...
), accurate estimates are the basis of sound
project planning Project planning is part of project management, which relates to the use of schedules such as Gantt charts to plan and subsequently report progress within the project environment. Project planning can be done manually or by the use of project m ...
. Many processes have been developed to aid engineers in making accurate estimates, such as *Analogy based estimation * Compartmentalization (i.e., breakdown of tasks) *
Cost estimate A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem ...
*
Delphi method } The Delphi method or Delphi technique ( ; also known as Estimate-Talk-Estimate or ETE) is a structured communication technique or method, originally developed as a systematic, interactive forecasting method which relies on a panel of experts. The ...
*Documenting estimation results *Educated assumptions *Estimating each task *Examining historical data *Identifying dependencies *
Parametric estimating Estimation theory is a branch of statistics that deals with estimating the values of parameters based on measured empirical data that has a random component. The parameters describe an underlying physical setting in such a way that their valu ...
*Risk assessment *Structured planning Popular estimation processes for software projects include: *
Cocomo The Constructive Cost Model (COCOMO) is a procedural software cost estimation model developed by Barry W. Boehm. The model parameters are derived from fitting a regression formula using data from historical projects (63 projects for COCOMO 81 ...
* Cosysmo *
Event chain methodology Event chain methodology is a network analysis technique that is focused on identifying and managing events and relationship between them (event chains) that affect project schedules. It is an uncertainty modeling schedule technique. Event chain me ...
* Function points *
Planning poker Planning poker, also called Scrum poker, is a consensus-based, gamified technique for estimating, mostly used for timeboxing in '' Agile principles''. In planning poker, members of the group make estimates by playing numbered cards face-down ...
*
Program Evaluation and Review Technique The program evaluation and review technique (PERT) is a statistical tool used in project management, which was designed to analyze and represent the tasks involved in completing a given project. First developed by the United States Navy i ...
(PERT) * Proxy-based estimating (PROBE) (from the Personal Software Process) * The Planning Game (from
Extreme Programming Extreme programming (XP) is a software development methodology intended to improve software quality and responsiveness to changing customer requirements. As a type of agile software development,"Human Centred Technology Workshop 2006 ", 2006, P ...
) *
Weighted Micro Function Points Weighted Micro Function Points (WMFP) is a modern software sizing algorithm which is a successor to solid ancestor scientific methods as COCOMO, COSYSMO, maintainability index, cyclomatic complexity, function points, and Halstead complexity. It ...
(WMFP) * Wideband Delphi


See also

*
Estimation in software engineering Cost estimation in software engineering is typically concerned with the financial spend on the effort to develop and test the software, this can also include requirements review, maintenance, training, managing and buying extra equipment, servers ...
*
Software development effort estimation In software development, effort estimation is the process of predicting the most realistic amount of effort (expressed in terms of person-hours or money) required to develop or maintain software based on incomplete, uncertain and noisy input. Effort ...
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Comparison of development estimation software In software development, effort estimation is the process of predicting the most realistic amount of effort (expressed in terms of person-hours or money) required to develop or maintain software based on incomplete, uncertain and noisy input. Effort ...
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Cognitive bias A cognitive bias is a systematic pattern of deviation from norm (philosophy), norm or rationality in judgment. Individuals create their own "subjective reality" from their perception of the input. An individual's construction of reality, not the ...
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Decision making In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either ra ...
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Decision making software Decision may refer to: Law and politics *Judgment (law), as the outcome of a legal case *Landmark decision, the outcome of a case that sets a legal precedent * ''Per curiam'' decision, by a court with multiple judges Books * ''Decision'' (novel ...
*
Work Breakdown Structure A work-breakdown structure (WBS) in project management and systems engineering is a deliverable-oriented breakdown of a project into smaller components. A work breakdown structure is a key project deliverable that organizes the team's work into ...
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Project management Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. T ...
*
List of project management software The following is a comparison of project management software. General information Features Monetary features See also * Kanban (development) * Project management software * Project planning * Comparison of scrum software * Compari ...
*
Software metric In software engineering and development, a software metric is a standard of measure of a degree to which a software system or process possesses some property. Even if a metric is not a measurement (metrics are functions, while measurements are ...
* Wideband Delphi * Guesstimate *
Ballpark estimate ''Guesstimate'' is an informal English portmanteau of ''guess'' and ''estimate'', first used by American statisticians in 1934 or 1935.Construction Estimating Software


External links


Project Estimation Methods

Estimation chapter from "Applied Software Project Management" (PDF)





Three types of B2C estimates
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