This question and answer column examines late and overbudget projects, range estimates, scope changes, and time spent on non-project work.

Cost Management is a function which includes the processes that are required to maintain effective financial control of projects (evaluating, estimating, budgeting, monitoring, analyzing, forecasting and …

Oct 18, 2008 · Projects that successfully meet planned targets are those that often began with estimates that accurately reflected the reality involved in realizing the project. This paper examines a process …

Oct 23, 2012 · Parametric cost estimates can be applied to a total project or to segments of a project, in conjunction with other estimating methods (PMBOK® Guide Fourth Edition, Project Management …

Estimating can be a tedious task, and the final numbers are influenced by a daunting number of factors: scope, type of project, resources involved in estimating, type of client, unknown variables, potential …

Oct 22, 2012 · Estimating work effort in agile projects is fundamentally different from traditional methods of estimation. The traditional approach is to estimate using a "bottom-up" technique: detail out all …

Oct 22, 2012 · Contingency, an amount of funds added to the base cost estimate to cover estimate uncertainty and risk exposure, is a topic of interest for both project managers and sponsors alike. …

Project estimating plays a vital role in project management. Accurate estimation and refinement of the estimates leads to better and earlier decision-making, thus maximizing value. This practice standard …

Oct 21, 2011 · The Project Management Institute recently published a comprehensive Practice Standard for Project Estimating that aligns with A Guide to the Project Management Body of Knowledge …

One of the project manager’s major concerns at a project’s inception is the reliability of the project’s estimates. Too often, these estimates are inaccurate because the estimators incorrectly used the …