time management Estimation tools and techniques Estimating the duration of an activity means starting with the information you have about that activity and the resources that are assigned to it, and then working with the project team to come up with an estimate. Most of the time you'll start with a rough estimate and then refine it (maybe a few times!) to make it more accurate. You'll use these five tools and techniques to create the most accurate estimates. Expert Judgement will come from your project team members who are familiar with the work that has to be done. If you don't get their opinion, then there's a huge risk that your estimates will be wrong! Analogous Estimating 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. But this only works if the activities and the project team are similar! Three-Point Estimates are when you come up with three numbers: a realistic estimate that's most likely to occur, an optimistic one that represents the best-case scenario, and a pessimistic one that represents the worst-case scenario. The final estimate is the average. Parametric Estimating means plugging data about your project into a formula, spreadsheet, database, or computer program that comes up with an estimate. The software or formula that you use for parametric estimating is built on a database of actual durations from past projects. Reserve Analysis means adding extra time to the schedule (called a contingency reserve or a buffer) to account for extra risk. A contingency re buffer) is money serve (or aside to deal wit you set you haven't planne h stuff d for. Each of these scenarios describes a different tool or technique from Activity Duration Estimating. Write down which tool or technique is being described. 2. There will be two different catering companies at the wedding. Kathleen asks the head chef at each of them to give her an estimate of how long it will take each of them to do the job. 3. There's a spreadsheet Kathleen always uses to figure out how long it takes guests to RSVP. She enters the number of guests and their ZIP codes, and it calculates an estimate for her. 4. Kathleen's done four weddings that are very similar to Rob and Rebecca's, and in all four of them it took exactly the same amount of time for the caterers to set up the reception hall. you are here 4 Answers on page 283. 241 1. Kathleen comes up with three estimates (one where everything goes wrong, one where some things go wrong, and one where nothing goes wrong) for printing invitations, and averages them together to come up with a final number.