In
project management (i.e., for
engineering), accurate estimates are the basis of sound
project planning. Many processes have been developed to aid engineers in making accurate estimates, such as
- Analogy based estimation
- Compartmentalization (i.e., breakdown of tasks)
- Cost estimate
- Delphi method
- Documenting estimation results
- Educated assumptions
- Estimating each task
- Examining historical data
- Identifying dependencies
- Parametric estimating
- Risk assessment
- Structured planning