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 broad foundation for creating credible estimations. It teaches various methods and useful guidelines for estimating in classical and agile environments. The methods will be compared and evaluated with respect to their advantages and disadvantages as well as their applicability in different phases of a project. During the course, various scenarios and their tradeoffs will be discussed. Management processes that are involved in every estimation will also be a particular point of focus. In addition, the course will provide participants with guidelines on how to negotiate and communicate an estimation.
Various exercises and examples covering different estimation aspects help participants to become more familiar with the different methods.
At the end of the course, participants will have a solid basis to decide what estimation method to use, how to apply it and determine how meaningful estimates are. They will have a sound foundation upon which they can justify and negotiate their estimates.
The course is aimed at managers, project managers and developers who are confronted with the task of preparing project effort estimates or verifying estimates.