Time Estimation in Projects - Necessary Evil...
The article 'Demystifying Project Estimation' focuses on the crucial topic of estimating time and costs in projects. The author explains why estimation is a key element of project planning and what methods can be used to enhance the accuracy of these estimates. Various approaches are showcased, such as the analog technique and data-driven methods, which can be tailored to specific project needs. One of the important points made in the article is the discussion of common traps that can be encountered while estimating, like overconfidence and ignoring risks. Ultimately, the author highlights that regularly updating estimates and involving the team in the process are vital for project success.