One of the first tasks when managing a project is the cost estimate. A cost estimate must be accurate, transparent and reliable. These factors are particularly important for a small business because ...

Two key features of a project are on-time and on-budget delivery. The project manager can only fulfill these objectives if the estimates leading to the project schedule and budget are accurate.

The purpose of the estimate is two-fold. First, it allows the contractor to enter into a contractual agreement with confidence. Second, it provides an organized, detailed plan to execute the project ...

Project managers are asked to provide effort, duration, and cost estimates as a primary part of our jobs. You know then, that the estimation process is partly an art and partly a science. However, ...

Value stream management involves people in the organization to examine workflows and other processes to ensure they are deriving the maximum value from their efforts while eliminating waste — of ...

Project work estimation has three components: the initial first cut, commonly known as a SWAG (scientific wild-ass guess), tracking the estimate against the actual numbers, and using the schedule to ...

The word “assume” means “to take for granted; suppose.” Most estimating departments are fast-paced environments, which requires the estimator to read many specifications in a short period of time. You ...

Any project manager knows that no project is completed in perfect circumstances. So you should use the following process and techniques if you want to make your schedule estimate as realistic as ...

Last week I received a question about project estimation. If you’re part of a next-generation IT group, project estimation is a critically important capability. If, on the other hand, you’re part of a ...

Marlee Benson is a tenacious advocate for both established and up-and-coming women in the construction industry. Through her role as a construction manager at Oppidan Investment Company and outside ...