SAB4#55_Estimate_Activities_Duration

Annotations:

• * Estimate Activity Durations is the process of estimating the numbers of work periods needed to complete individual activities with estimated resources. * Estimate how much time each Activity will take.

1. Process: Estimate Activity Durations
2. Process Group: Planning
3. Knowledge Area: Time Management
4. 1. Schedule Management Plan
5. 2. Activity list
6. 3. Activity attributes
7. 4. Activity resources requirements
   1. Estimate Activities Resources
8. 5. Resource Calendars
9. 6. Project Scope Statement
10. 7. Risk Register
11. 8. Resource breakdown structure RBS
    1. Estimate Activities Resources
12. 9. EEF
13. 10. OPAs
14. 1. Expert Judgment

    Annotations:

    • Will come from your project team members who are familiar with the work that has to be done.
15. 2. Analogous Estimation (Top Down)

    Annotations:

    • Is when you look at activities from previous projects that were similar to this one and look at how long it took to do similar work before.
16. 3. Parametric Estimating

    Annotations:

    • Parametric estimating looks at the relationships between variables on an activity to calculate time or cost estimates.  The data can come  from historical records from previous projects, industry requirements, standard metrics, or other sources.
    1. Regression Analysis (scatter diagrams)
    2. Learning Curve
17. 4. Three-Point estimating

    Annotations:

    • Statistically, there is a very small probability of completing a project on exactly any one date. As we know, things do not always go according to plan. With the three-point technique, estimators give an optimistic (0),  pessimistic (P), and most likely (M)  estimate for each activity.
18. 5. Group decision-making techniques

    Annotations:

    • Involving team members in estimating can be beneficial on many levels. Those doing the work are most likely to have a good understanding of the time required to complete the effort.
19. 6. Reserve Analysis

    Annotations:

    • Means adding extra time to the schedule (called a contingency reserve  or a buffer ) to account for extra risk.
20. 1.- Activity duration estimates
21. 2. Project Document Updates