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Posts Tagged ‘contingency reserve’

Four Reasons Why Project Estimates Get Re-Adjusted

August 9th, 2013 No comments

In the previous part of the article Improving Quality of Project Estimation, six guidelines for improving project estimates were presented. Experience in this world tells us that estimates sometimes do not materialize as planned and to compensate for this problem, project managers might end up readjusting their estimates by adding 20 percent or more. But why after all the efforts that have been put on detailed estimates do these numbers slip? In this third and final part of the article, we discuss four reasons for this dilemma.

Six Guidelines for Improving Project Estimates

August 9th, 2013 No comments

In the previous part of the article Improving Quality of Project Estimation, we highlighted nine important factors that need to be considered when making estimates. In this second part of the article, we present six guidelines that will hep project managers develop better quality of estimates and avoid common pitfalls in practice.