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10 Tips To Create Accurate Project Estimates

Project estimation is like predicting the future. Making an accurate project estimate can be a daunting task for project managers. The project estimate is not only affected by known factors like budget, resources, type of project and its scope, but also unknown variables and risks. The project manager faces several challenges while estimating.

VeronikaTondon
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10 Tips To Create Accurate Project Estimates

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  1. 10 Tips To Create Accurate Project Estimates

  2. Contents Introduction Discussing Project Priorities The Numbers Should Not Just Fit The Budget Consider The Risk Factors Detailed Breakdown Follow Proper Process Planning Clarify Assumptions Include Contingency Appreciate The Client Business Include Common Activities

  3. Introduction

  4. Discussing Project Priorities

  5. The Numbers Shouldn’t Just Fit The Budget

  6. Consider The Risk Factors

  7. Detailed Breakdown

  8. Follow Proper Process Planning

  9. Clarify Assumptions

  10. Include Contingency

  11. Appreciate The Client’s Business

  12. Include Common Activities

  13. Use The Lessons and Data From Previous Projects

  14. Use The Lessons and Data From Previous Projects

  15. More Than One Technique

  16. Choose The Right Tool All the above mentioned activities become cumbersome when traditional methods of project management. Using a project management applicationhelps managing and billing for projects more accurately and efficiently.

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