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Professional Time and Cost Estimation

Categories Project Management & Agile

General Information
2 Days

This project management seminar deals with methods for systematic time and cost estimation. Estimating time and costs correctly is one of the greatest challenges for project-based businesses. If your estimates are too low, you pay the extra costs in fixed price projects. If your estimates are too high and your resulting quotations are too expensive, customers will not order from you and your competition will profit. These are good reasons to increase estimation precision!

In this seminar you will learn when to use which method and how the estimate is integrated into project control. You will learn the differences between scope estimation, time estimation and cost estimation.

  • Motivation and problems in estimation
  • Basics of time and cost estimation
  • The estimation and planning process
  • Factors that influence estimation
  • Methods of time and cost estimation
    • Counting, calculating, intuition
    • Estimates based on project structure / product structure
    • One point estimates vs. three point estimates
    • Analogy methods
    • Fuzzy logic and related variants (e.g. story points)
    • Delphi methods and related variants (wideband delphi, planning poker)
    • Team estimation game and magic estimation (for estimating when time is short)
    • Algorithm methods (e.g. function point)
  • Differences in estimation based on function category (e.g. support processes vs. engineering processes
  • Estimating project duration and costs
  • Interfaces with other processes (e.g. risk management and project control)
  • Exercises
Target audience
  • Managers, project managers
  • Basic knowledge of systems or software engineering

Any Questions?

Any questions about our engineering service offers? Feel free to call us!

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Manuela Fernandes da Costa

+49 9131 97206-556 Contact
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Courses 2020/21
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General Terms & Conditions
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