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1. Examples Of Estimation Techniques Pmp 2

Bottom-up estimating is an extremely helpful technique in project management as it allows for the ability to get a more refined estimate of a particular component of work. In bottom-up estimating, each task is broken down into smaller components.

Part of the estimating process on the PMP Certification Exam is looking at alternative project approaches. Sometimes, bringing in a full-time employee to fill a slot on the team is the best option; other times, going with contract labor is a better option. With equipment, you can compare cost options of purchasing, leasing, or renting. Parametric Estimating. For example, in a previous project, we take the cost of concrete per cubic meter, then calculate the concrete requirement for the current project and multiply it with the cost obtained from the previous project. This will provide the total cost of concrete for your current project. In the same way.

Estimation Techniques as defined in PMBOK 6 for PMP Aspirants.

What you’ll learn

Learning the basic estimation techniques including analogous, parametric, and three-point estimation

Applying more than one estimating techniques

Identifying estimates, make assumptions and use related information to make a valid estimate

Identifying the likely risks and assumptionsDefining the resource and cost estimate for completion of each activity during the project

Requirements

A general idea of Estimation in terms of SchedulingBasic Mathematics understanding i.e average and weighted average

Description

Estimation is a vital practice for making the projects successful. Project managers are often challenged with scope, time, cost, quality, resources and risk limitations and here estimation plays a crucial role. Being a professional estimator is an imperative part of setting schedules, creating budgets, controlling resources and running a booming team and business. This course will highlight some of the most common estimation techniques for project management. These techniques are not only viable but also used frequently in multiple projects. They require a particular data and mathematical and statistical processes that will be taught in this course.

Who is the target audience?

This course is designed for both the current and future Business Analysts and Project Managers

Professionals who want to enhance their role as project estimators or managers

Students and professionals who want to have a deep understanding of project estimation steps and techniques that are essential for managing a project.

Category: Business, Management, Project Management

Instructor: Mudassir Iqbal

Language: English

Examples Of Estimation Techniques Pmp 2

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