Estimating: The input into good project planning

Abstract

The authors review the literature on the procedures and techniques used to develop good estimates. The research and application of time, cost, and resource estimating are examined. Software documentation has also been summarized. Included in this study is the evaluation of approximately 30 project management manuals from service and manufacturing companies in the public and private sectors. Finally, there is an incorporation of opinions on estimating procedures and their real life usefulness and validity. The writers define an estimate, summarize rules for developing better estimates, and develop a checklist of constraints and considerations. These were communicated by several hundred project managers who have attended project management workshops.