English High School

1.How many different estimating techniques were discussed in the case?
2.If each estimate is different, how does a project manager decide that one estimate is better than another?
3.If you were the project manager, which estimate would you use

Answers

Answer 1

When faced with different estimates, a project manager should consider factors such as data credibility, expertise, historical performance, risks, and assumptions. Evaluating both estimates and seeking further input will help make an informed decision for a realistic project estimate.

1. In the case study, two different estimating techniques were discussed. The first technique mentioned is the use of historical data or previous experience to estimate the time and effort required for a particular task or work package.

This is demonstrated when Barbara states that she had performed the task in question on previous projects, and it required one person full-time for fourteen weeks.

The second technique mentioned is the three-point estimate, which considers the optimistic, most likely, and pessimistic scenarios for estimating time and effort. The estimating group used this technique to arrive at a twelve-week estimate for the critical work package.

2. When faced with different estimates, a project manager needs to consider various factors to determine which estimate is better.

These factors may include the credibility and accuracy of the data used for estimation, the expertise and experience of the individuals providing the estimates, the historical performance of similar tasks or projects, and any specific risks or uncertainties associated with the project.

Project managers may also evaluate the assumptions and methodologies employed in the estimation process. Additionally, they can seek input from subject matter experts or conduct further analysis to refine the estimates.

3. As the project manager, considering Barbara's previous experience with the task and her skepticism about the three-point estimate, it would be prudent to carefully evaluate both estimates.

Barbara's own experience of fourteen weeks provides a valuable data point, indicating that the task may require more time than the twelve-week estimate derived from the three-point technique. However, it is essential to consider the estimating team's approach as well.

The three-point estimate takes into account a range of possibilities, providing a more comprehensive view of the potential time needed.

As a project manager, a balanced approach would involve reviewing the assumptions, methodologies, and historical data behind both estimates, seeking further input from experts if necessary, and making an informed decision based on the available information.

Ultimately, the goal would be to arrive at a realistic estimate that adequately considers potential risks and uncertainties to ensure successful project execution.

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Complete question:

Barbara just received the good news: She was assigned as the project manager for a project that her company won as part of competitive bidding. Whenever a request for proposal (RFP) comes into Barbara?s company, a committee composed mainly of senior managers reviews the RFP. If the decision is made to bid on the job, the RFP is turned over to the Proposal Department. Part of the Proposal Department is an estimating group that is responsible for estimating all work. If the estimating group has no previous history concerning some of the deliverable or work packages and is unsure about the time and cost for the work, the estimating team will then ask the functional managers for assistance with estimating. Project managers like Barbara do not often participate in the bidding process. Usually, their first knowledge about the project comes after the contract is awarded to their company and they are assigned as the project manager. Some project managers are highly optimistic and trust the estimates that were submitted in the bid implicitly unless, of course, a significant span of time has elapsed between the date of submittal of the proposal and the final contract award date.

Barbara asked the estimating group how they arrived at this estimate. The estimating group responded that they used the three-point estimate where the optimistic time was four weeks, the most likely time was thirteen weeks, and the pes-simistic time was sixteen weeks. Barbara believed that the three-point estimate was way off of the mark.

Read the case study "The Estimating Problem" and then answer the questions. 1. How many different estimating techniques were discussed in the case? 2. If each estimate is different, how does a project manager decide that one estimate is better than another? 3. If you were the project manager, which estimate would you use?

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