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Project Management Orientation

What Is an Estimate?

WWPMM defines an estimate as an assessment of the likely quantitative result based on experience or historical data from previous projects, if any.

You will usually estimate the number of labor hours, labor costs, and other costs (material, travel, and so on.) for the project.  The following terms are a key part of estimating and are used throughout this module:


An estimate should ideally include some indication of accuracy.  Early in the project planning, you won’t know all the details about the project, and so your estimates will have a wide accuracy range around them, perhaps as much as 50% under to 100% over.  But as you plan the project in detail, you should be able to produce estimates with a narrower range of accuracy, say 5% under to 10% over.

1: Getting Started
2: Define the Project Team
3: Team Management
4: Identify and Validate Requirements
5: Create Decomposition Structures
6: Risk Management
7: Project Estimates
8: Project Schedules
9: Change Management
10: Project Control and Execution
Defining the Project
11: Project Management Review
12: Project Closeout
13: Project Management Tool Suite
14: Self-Assessment and Final Exam
Fast Points
Concepts
Seven Keys
Case Study
WWPMM
Mentor
Check Point
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