Almost every project requires an estimate. Since a project is, by definition, temporary, somebody must approve a budget for it. Which means they must know how much to approve. The available types of estimates can be categorized into the following groups: Accuracy Source of Data Estimating techniques Accuracy In many industries, project estimates start very... [Read More]| ProjectEngineer
Estimating a project is one of the most important aspects of project management. Projects are by definition temporary endeavors with a defined beginning and end, hence stakeholders need to know how much expenditure they are committing to. Thus, project estimates tend to start before the project even begins and are usually updated throughout the project... [Read More]| ProjectEngineer
Parametric estimating is a guaranteed inclusion on the PMP Exam. This article is assured to give you at least one point (but more likely four or five). Parametric estimating is a project estimation technique whereby a unit rate is used and multiplied by the number of units. For example: A house building project is estimated... [Read More]| ProjectEngineer