Project Estimating: Bullet Proofing Your Project Plan

Real-World Solutions for Estimating Projects—1 Day, 7 Hours

As a project manager can you predict how long a project will take and how much it will cost? Would your stakeholders listen to you even if you constructed a plan that describes what is really going to happen, based on your current knowledge of the required scope and the capabilities of your team? Are you competent in the specific techniques to create defensible duration and effort estimates?

This innovative course from RMC Project Management will help you understand why project estimating mistakes occur, and will present real-world solutions that you can implement immediately.

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By the end of this course, students should be able to:

  1. Operate within the estimating environments that exist on projects.
  2. Break down WBS elements into corresponding activities that reflect the work needed on projects.
  3. Utilize appropriate estimating techniques for given activities that accurately predict effort and duration.
  4. Overcome the challenges of communicating estimates to stakeholders.
  • Estimating Challenges
  • The Estimating Environment
    • Defining Project Priorities
    • Roles of Project Manager in Estimating
    • The Top-down versus Bottom-up Dilemma
    • Communication Challenges
  • Preparing to Estimate
    • Understanding What is Estimating
    • What Are We Estimating?
    • What Should Be Done First?
    • Agreeing on Terms with Sponsor/Customer
  • Estimating Through the Project Life Cycle
    • Initiating
    • ROM Estimating
    • Planning: Why Do It?
    • Plan-driven vs. Iterative Dilemma
    • How Accurate Must Your Estimates Be?
    • Rita’s Process Chart: Planning Steps to Estimating
    • Determine Team
    • Using the WBS
    • Create Activity List
    • Activity List Best Practices
    • Create Network Diagram
    • Estimate Resource Requirements
  • Estimating Techniques
    • Approaches to estimating
    • Analogous Estimating
    • Using Subject Matter Experts
    • Delphi Technique
    • Parametrics Estimating
    • Three-Point Estimating
    • Multiple Source Cross Referencing
  • Communication
    • Facilitating the Estimating Meeting
    • Creating the Right Estimating Atmosphere
    • About Padding
    • Honesty and Group Pressure
  • Finalizing the Schedule
    • Calculate the Critical Path
    • Envisioning the Schedule Model
    • Schedule Creation
    • Schedule Compression Options
    • Presenting Options to Sponsor and Stakeholders
  • Managing the Critical Path
  • Summary and Conclusion

Students will receive the following materials with the course attendance:

  • Project Estimating: Bullet Proofing Your Project Plan Workbook

BOOK: PM Crash Course, Second Edition
by Rita Mulcahy et. al.

This compact resource guide quickly and clearly communicates project-related concepts like project charters, stakeholder management, requirements definition, estimating, scheduling, budgeting, quality management, risk management and more.

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WHITE PAPER: Tailoring Scope by Project—Why One Doesn't Fit All by Barbara A. Carkenord

This whitepaper recommends that scoping should be tailored to the type of project and product being undertaken, rather than trying to design a standard scope statement or statement of work (SOW) for all projects.

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FREE RECORDED WEBINAR: Overcoming Politics on Projects
by Rick A. Morris

This one-hour Webinar dives into the topics of gaining buy-in from upper management, accurately estimating time and cost, controlling project communication, managing within corporate culture, taking care of your team, and more.

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TEMPLATE: Free Sample Project Charter

Having trouble creating a project charter for your upcoming initiative? Use this free sample from RMC as a guideline, and complete your charter quickly and easily.

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For Corporate Pricing or to Schedule a Training Needs Assessment, Please Contact:

Ken Mulcahy • Onsite Training Specialist • (952) 846-4484

* Discounts Available for Federal, State and Local Government Agencies

Register for this Course

Type: Core PM Training
Audience: PMs, Functional Business Analysts, Senior Managers, Team Members, Sales People
Duration: 1 Day – 8:00 am to 4:00 pm
Contact Hours/PDUs: 7
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