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1. Developing an estimate for a large technology project is a complex task requiring a significant amount of effort.
2. estimates are done at various stages of the project “Progressive Elaboration”
- ROM (-25% to + 75%) or SWAG
- Budget (-10% to + 25%)
- Definitive (-5% to 10%)
3. Many people doing estimates have little experience doing them.
4. People have a bias toward underestimation. Review estimates and ask important questions to make sure estimates are not biased
5. Management wants a number for a bid or just to look good to superiors, not a real estimate. Project managers must
negotiate with project sponsors to create realistic estimates
francis1897 answered the question on March 14, 2023 at 05:43
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