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What are the best practices for accurate IT project estimation and scheduling?

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IT projects often involve complex and uncertain tasks, dependencies, and resources, making estimation and scheduling a challenging but essential skill. In this article, we will share some of the best practices for accurate IT project estimation and scheduling, based on industry standards and expert advice. These practices can help you avoid common pitfalls, deliver value to your clients, and manage your team effectively.

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Vinay Kumar

Project Management (PRINCE2?CERTIFIED) || ITIL CERTIFIED || e-Governance || ITMS || Traffic Planning & Management ||…
Dr Abilio Oliveira

1 Define the scope and objectives

The first step in any IT project is to define the scope and objectives clearly and realistically. This means identifying the requirements, deliverables, constraints, assumptions, and risks of the project, as well as the expectations and priorities of the stakeholders. A well-defined scope and objectives can help you avoid scope creep, align your team and clients, and measure your progress and success.

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Vinay Kumar

Project Management (PRINCE2?CERTIFIED) || ITIL CERTIFIED || e-Governance || ITMS || Traffic Planning & Management || DPR || RFP || Pre-Sales & Bid Management ||
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Accurate IT project estimation and scheduling are crucial for the success of any project. Here are some best practices to ensure accuracy: Define Clear Requirements, Break Down Tasks, Use Historical Data, Involve Subject Matter Experts (SMEs), Consider Dependencies, Pad Estimates, Use Estimation Techniques, Iterative Planning, Communication and Collaboration, Monitor and Adjust, Use Project Management Tools, Document Assumptions and Constraints. By following these best practices, IT project managers can improve the accuracy of their estimations and schedules, leading to successful project outcomes and satisfied stakeholders.

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Alicia Yeoh

"Things that support our health and mental well being shouldn't be seen as luxuries"
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Adding 1 point - buffer time for delays and indicate what is the time buffer; not just incorporate into the main tasks… the buffer time is always “unknown hours or days” thus makes it a challenge to executors

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2 Choose an estimation method

There are many methods for estimating IT projects, such as analogy, expert judgment, parametric, bottom-up, top-down, and agile. Each method has its advantages and disadvantages, depending on the type, size, and complexity of the project, the availability and reliability of data, and the level of uncertainty and risk. You should choose an estimation method that suits your project characteristics, your team's experience and skills, and your client's preferences and needs.

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Alicia Yeoh

"Things that support our health and mental well being shouldn't be seen as luxuries"
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Choose what works for a project not peer pressure or trending practices. Agile is a great methodology but if the project team generally are not practitioners it may not be ideal as its needs more attention to quick change management skills

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3 Break down the work

Once you have chosen an estimation method, you should break down the work into manageable and measurable units, such as tasks, activities, phases, or features. This can help you estimate the duration, effort, cost, and quality of each unit more accurately and consistently, as well as identify the dependencies and relationships among them. You can use tools such as work breakdown structures (WBS), user stories, or use cases to organize and document the work units.

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Dr Abilio Oliveira
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Start with decomposing the project into smaller, manageable tasks. This detailed breakdown facilitates a clearer understanding of project scope and requirements. Apply techniques like Work Breakdown Structure (WBS) to organize tasks hierarchically, ensuring nothing is overlooked. Use historical data from similar projects for realistic time and effort estimation. Engage experts for estimates on complex tasks to leverage their experience. Incorporate buffer times for unforeseen delays. Finally, continuously review and adjust estimates as the project progresses, allowing for refined accuracy over time. This methodical approach enhances estimation reliability and project scheduling effectiveness.

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Alicia Yeoh

"Things that support our health and mental well being shouldn't be seen as luxuries"
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Adding 1 point- breakdown according to “manageable bytes” should always consider the manpower and skilled team availability. I have seen a great project plan which was executed and along the way the PM grappling to find the skilled person to execute one of the phases where there were no such person included in the team from the plan stage- it was always To Recruit and someone forgotten about it until …..

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4 Validate and refine the estimates

Estimates are not static or final; they are subject to change and improvement as the project progresses and more information becomes available. You should validate and refine your estimates regularly, using techniques such as peer review, historical data, feedback, testing, or iteration. You should also communicate your estimates clearly and transparently to your team and clients, explaining the assumptions, methods, and ranges involved, and managing their expectations and changes.

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Dr Abilio Oliveira
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To ensure accurate IT project estimation and scheduling through validation and refinement, begin by comparing initial estimates against similar past projects to identify discrepancies. Involve a diverse team of stakeholders, including developers, project managers, and clients, in the estimation process to gather multiple perspectives. Use iterative techniques such as Delphi Method for consensus among experts on time and resource requirements. Implement progressive elaboration, where estimates are continuously refined as more detailed project information becomes available. Schedule regular review meetings to assess progress and adjust estimates and schedules based on actual performance and any changes in scope.

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5 Create a realistic schedule

A schedule is a plan that shows when and how the work units will be completed, considering the estimates, dependencies, resources, and milestones. A realistic schedule can help you monitor and control the project execution, track the performance and progress, and handle any issues or delays. You should create a schedule that is feasible, flexible, and aligned with the project scope and objectives, using tools such as Gantt charts, network diagrams, or agile boards.

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6 Review and update the schedule

A schedule is not a fixed or final document; it is a dynamic and evolving tool that reflects the current state and status of the project. You should review and update your schedule regularly, using techniques such as critical path analysis, earned value management, or agile metrics. You should also communicate your schedule clearly and frequently to your team and clients, reporting the achievements, challenges, and variances, and adjusting the plan accordingly.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the best practices for accurate IT project estimation and scheduling?

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1 Define the scope and objectives

2 Choose an estimation method

3 Break down the work

4 Validate and refine the estimates

5 Create a realistic schedule

6 Review and update the schedule

7 Here’s what else to consider

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