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The Basis of Estimate

July 16th, 2018 · No Comments

by Dwayne Phillips

Another fundamental to what we used to call “project management.” If you don’t have something like a basis of estimate…good luck. You will need it.

“We can have this done in so many days at such-and-such cost!”

“Really? Great. Oh, by the way, why do you think that?”

The answer is a basis of estimate. Okay, no one likes a term like “BASIS OF ESTIMATE.” That sounds too rigid or old fashioned or just plain mean. We need something nicer or more agile or something.

The basis of estimate or “this is why I think I can do this” doesn’t have to be painful to create. Are you Agile? This is the velocity on similar tasks. “This isn’t exact to five significant digits, but it is something. We will adjust our reason why as we practice and learn.”

Yes, we should have something other than, “You want it by Christmas? Yeah, I think we can do that.” Have something you can stick on the wall and say, “See that? That is why.”

Tags: Estimation

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