Posts Tagged ‘estimates’

What is good project management?

July 31st, 2009

I try to ask myself this on a fairly regular basis. I feel it keeps me focused on building the right tool for the job, rather than just the shiniest one in the box.

Consequently, the more I’ve thought about this question, the more keep coming back to another question: How long? This seems to be the most prevalent question in project management, and is the basis for nearly every project management decision we make. How long ago did they ask for this? How long will it take to do? How long have you been working on it? How much longer until we’re done? Then, when we’re done, we ask: How long did that take? How much longer is that than we thought it would take?

There are dozens of “how long” questions in project management, and this is simply because managing a project, is managing time. People, budget, service these are all just tangible realizations of time. The distillation of nearly every facet of a project, to its most basic unit, leaves time.

So, it seems clear to me that a tool designed to make project management easier, should place great emphasis on reducing the effort required to answer these “how long” questions. Odd that I’ve yet to see one that does.

What does good project management mean to you?

Better Estimates: Leveraging Past Performance

July 1st, 2009

Everything we do, day in and day out, can generate data, which can be leveraged to create better estimates. In fact, the more “stuff” we do, the more data we generate and the more useful it becomes.

Each and every one of us estimates poorly in our own unique way. Some of us over-estimate, some of us under-estimate, and some of us couldn’t hit the broad side of a barn. However, we usually follow a pattern of some kind. The degree to which our estimates are off generally conforms to roughly the same proportions. If we were to examine a particular worker’s estimated task completion time to the actual completion time over the course of many tasks, we can determine the approximate factor to apply to his estimates to find the actual completion time. Continue Reading

Creating Accurate Estimates Quickly

June 12th, 2009

No one likes to generate estimates. They trigger anxiety, frustration, boredom and are usually inaccurate anyway.

At some point in human history, estimates evolved into something more than what they’re intended to be. Perhaps we have shady contractors, auto garages, and wedding planners to thank for the modern perception that billing a client more than the estimated value means someone has been mislead, or taken advantage of. Or, perhaps it’s the fact that generating an accurate estimate is genuinely, extremely difficult — especially given that many estimates are expected to be delivered while there are still many unsolved variables on the slate. Somewhere along the way, we’ve lost sight of the fact that an estimate is really just your best guess, based on a combination of the information available at the time and your experience. Continue Reading