Project Estimating (Effort, Cost and Schedule)
(1-day, 8 PDUs)

Course Overview:

People estimate because they do not know the future. This class will cover the major Techniques, Methods, and Calculations that goes into developing project estimates of effort, cost and schedule. Additionally, advice will be provided to the attendee in how to politically present the estimate to management. The course also covers the pitfalls of losing information in arithmetic.

Learning Objectives:

Upon completion of this course, the student will be able to:

1. Understand the purpose of estimating
2. Understand the value, risks, and need for estimating
3. Understand the appropriateness of the various techniques and methods available to you
4. Be able to apply the most meaningful estimating techniques to each project situation
5. Choose the appropriate tool for your organization and project
6. Answer the question “How much?” and “How long?” safely

Course Agenda:

• Understanding your environment
• Defining what an estimate is (and is not!)
• Problems with estimates
• Looking at Project-Centric and non-Project Centric Companies
• Risks and Issues in Projects
• The Estimating Process
• Estimating Techniques
  • Expert
  • Comparison
  • Consensus
  • Case
  • Function Point Analysis
  • Work Distribution Model
  • Putnam Model
• Review of relationship to PMBOK
• Work Breakdown Structures (WBS)
• The Cost of Quality
• Discussion on the attributes of Cost Impactors
• Basis of Estimate
• Estimating Tools
• Rules of Estimating
• An Exercise

Who Should Attend:

• Project stakeholders who are responsible for, or participate in, developing estimates of effort, schedule and cost.
  • Project and Program Managers - Senior, Associate, In-Training
  • Project Coordinators
  • Business Analysts - Senior and Associate

Instructor(s) Who Lead and Facilitate this Course:

• Jim Rather
• John Ehlers
• Dow Presley
• Dub McNamara