Roberts Six Simple Rules for Good Estimating

Many projects run over budget, and behind schedule. In order for organizations to insure their estimates are sound and to prevent costs overruns they must follow some basic rules. The following is "Roberts Six Simple Rules for Good Estimating."

1. Stay within the scope. Sometimes I think the scope would change as much as the weather does if you let it. Take control of your projects, and remember you are the subject matter expert. No one has the pulse of what is going on as much as you do. You might not be the last say or have direct authority over every final decision but stick with your plan. You might not even be the smartest person in the team but remember you are responsible.

2. Create a realistic schedule, and cost analysis. Do not be pressured into making changes to time and cost every time a stakeholder wants you to lower expenses, or speed things up. Granted, you do not want to be inflexible but negotiate. Turn on the charm, be political, do whatever it takes to find a balance between what was planned, and what stakeholder wants.

3. Create, study, examine, and adjust the critical path. The goal of project managers is to bring their project in on time, under budget, within the scope, and meet established quality goals. The critical path is the spine of a project. Once something goes wrong with it the project can have a hard time walking. Project managers need to focus on their project goals, and not be concerned among other things happening within the organization (Barkley, D., 2006, p. 62).

4. When estimating costs find similar organizational projects to draw data from. If this is impossible to ask people, you think might have examples or will be able to point you in the right direction. Always remember Google is your friend. Kim Heldman (2009, p. 60) put it this way " you might find it helpful to review the activity estimates and budgets on past projects of similar size and scope before estimating the costs for the activities on the new project."

5. Estimated cost, and time requirements should be researched so that the estimates provide proper value when the project starts (Heldman, p. 102). Do not rush or use ballpark numbers just to satisfy your requirement to gather the data.

6. Remember that everything you do during your project while working on a project takes resources. This might seem obvious, but the small things can add up depending upon the size of your project. For example, sick or vacation days, team lunches, stakeholder visits, conflict resolution, or snow days can all have cost and schedule impacts.

Barkley, B. (2006). Integrated Project Management. p. 62. The McGraw-Hill Companies, Inc. New York: New York.

Heldman, K. (2009). Project Management Professional Exam Study Guide. 5th ed. p. 69 & p. 102. Wiley Publishing, Inc. Indianapolis: IN.