Methods of Project Estimation

Estimation is most challenging tasks that project managers must face as there are so many uncertainty associated with many activities. Estimation is the process of predicting the most realistic amount of efforts to develop software. Faulty estimates leads to missing deadlines and breaking budgets and these two are the main reasons for project failure.

I had faced the same issue in the past when I was novice as Project manager. Sometimes I was doing overestimation and sometimes under estimation. Some people thought it is good to do overestimation than underestimation but remember both had impact. If you do overestimation then you might be in position to lose your customer trust and if you do underestimation then it might be loss to your company.

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