7 Ways to Improve Project Estimates [Video]

Why do so many projects come in late and over budget? Poor estimates are often a major factor in these projects. So, let’s look at 7 ways to improve project estimates.

Define the project work

One of the top reasons for poor estimates is poor project definition. Project teams fail to identify significant work packages and associated project activities. Of course, these items are discovered later in the projects. How can project managers help overcome this problem? Gain buy-in and better definition by engaging stakeholders in a Work Breakdown Structure (WBS) exercise.

Ask the experts to estimate the work

It’s a mistake for project managers to estimate the work. Have the subject matter experts estimate the work. Let the individuals who will do the work render the estimates. Want better estimates? Find people who have done the work before.