Leveraging The New Practice Standard For Project Estimating
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Leveraging the New Practice Standard for Project Estimating
Author | : Vijay Kanabar |
Publisher | : |
Total Pages | : 14 |
Release | : 2011 |
Genre | : Estimation theory |
ISBN | : |
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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 (PMBOK® Guide). This paper illustrates the new practice standard, selected key inputs, activities, and outputs using a real-world project. It focuses on the estimation technique--analogous, parametric, and bottom-up--in some depth, within the context of estimating and building a conference management website. The new Practice Standard for Project Estimating provides information on the following focus areas: Principles and Concepts: Foundational; Prepare to Estimate stage: Focuses on the creation of a project estimating approach; Create Estimates stage; Manage Estimates stage; and Improve Estimating Process stage. This paper also provides a timely opportunity to understand the Project Estimating global standard and it with the PMBOK® Guide.
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