Project cost estimation is one of the most challenging tasks in project management. Estimates are used to allocate budgets, measure success or failure as well as to devise and define overall strategies. Because estimations play such a crucial role in these processes, it is essential to have a broad knowledge on how to create and deal with estimates.
This course provides a common terminology and a basic foundation for creating credible estimations. It gives an overview of various methods and provides participants with useful guidelines for estimating in classical and agile environments. In addition, participants will be given guidelines on how to communicate an estimation.
Discussions and small exercises help to connect the course content to a practical work environment.
At the end of the course, participants will be able to make estimates using various methods and determine how meaningful estimates are. They will have a sound basis upon which they can justify their estimates.
The course is aimed at managers, project managers and developers who are confronted with the task of preparing or verifying project effort estimates.