Chapter 8 ideas- The Dynamics of Accurate Estimating
When estimating, it is important that our estimation be as accurate as possible. However, no matter how well we can make the estimate, there is always some uncertainty.
There's alot of method thought to improve estimating technique.
One of the biggest factor to improve estimation accuracy is 'Time' (see below chart). Time (experience) helps to buy a more detailed and accurate estimation.
Time allows you to gather more data/ informations. Using data and lessons learned from previous projects is certainly a good place to start. Therefore, Analogy or Paramedtric (re-use) method is beneficial to consider the similarities between a previous projects and the new project being estimated. This provides opportunity to study the feasibility of reusing existing set up from a similar project.
This form of re-use makes cost estimation & project time line estimation much easier and precision in accuracy.
Gathering more data/ informations for better accuracy of estimation not only required time as stated above. The following human factor is very important to bring the whole team to provide a near to perfect estimation of accuracy in a project that is 'Communication'. Communication is the most effective tool, key to the success of the project and to delivering on all aspects of a project with the common end goals of hitting the bull eyes precise accuracy of estimation.
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