Estimating Techniques

In: Other Topics

Submitted By nikhilesh
Words 557
Pages 3
A. Poorly Defined Milestone’s:
Milestones allow project management to much more accurately determine whether the project is going as per schedule or not. So, if the milestones are not well defined it will be hard for a project manager to know if the project is going as planned or no. This problem can be overcome while keeping the following things while defining a milestone * The goals & timeline for completion. * The criteria for success. * Brief rationale. * Milestones are not a task to be completed; they are goals to be achieved.

B. Poor Estimating techniques:

A common reason for cost overruns is the inaccuracy of cost estimates. When the bids for subcontracts or the actual costs come in, they are often higher than anticipated. Such cost overruns are due either to incorrect estimates or to changed conditions in the marketplace. This problem can be overcome by reviewing cost estimates before placing orders to identify mistakes or changed conditions. An overall review may find that increases in some areas are compensated by decreases in others. You may be able to adjust requirements to reduce costs or seek out lower-cost suppliers. Advising the business owners or managers of possible higher costs at this stage gives them the option of making changes and maintaining their budgets.

C. A missing PERT/CPM Chart:
A PERT & CPM chart’s are project management tools used to schedule, organize, and coordinate tasks within a project. Missing PERT/CPM may cause as a lot of chaos in a project, such situation can be overcome by making a PERT/CPM chart such that the project management can determine which task has to start first & when it should start & finish.

D. Functional managers not having a clear understanding of what has to be done:
If the functional manager is not having a clear understanding on what has to be done…...

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