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Training ServicesHalf Day Workshops

Winning the Estimation Game

The Challenge
Every organization sooner or later is faced with the necessity of selecting and prioritizing projects. Estimation of cost and schedule is an important aspect of this process. While the techniques of estimation are fairly straightforward, project estimation nonetheless is something that Project Managers almost uniformly dread. Why? The primary cause of concern is that these early estimates that are generally based on very scant and suspect data often, contrary to all reason, become the budgets for future Missions Impossible.

We've all been there. We've seen one organization after another pursue a policy of setting baselines first and planning projects second. It makes no sense, it causes enormous difficulty for all involved and yet the practice persists. Why? What can be done about it?

The Solution
This workshop takes you on a guided tour through the sometimes wacky world of Preliminary Project Estimates and the Project Budgeting Process. It explains in detail steps that you and your management team can take to embrace the uncertainty that exists in preliminary estimates and use it in the planning process. Project Managers learn how to deliver estimates that make sense. Managers learn how to interpret estimation data in a way that allows rational budgeting. Attend this advanced project management workshop and learn how to make preliminary estimation and early project budgeting a Win - Win for everyone involved.

Who should attend
This advanced PM workshop will benefit anyone who is involved with project time or cost estimates: project manager; project sponsor; PMO staff; project portfolio managers; and functional managers and executives with project responsibility.

Learning Objectives Understand the following:
  • Why estimates are important
    • Impact on project selection estimates of Business Value
    • Impact on definition of project success
  • Why we are afraid to provide estimates
  • The three factors that determine estimate reliability
  • Management's role in making early estimates reliable
  • Uncertainty is built into every estimate
  • Including a measure of reliability in estimates
  • A simple technique for introducing confidence in estimates - PERT
  • Re-estimation as part of project change control
  • Implications for the project selection process
  • The Myth of Pressure Cooker Excellence exposed
  • How to make early project estimation and budgeting Win Win
Learning Approach
  • A highly experienced instructor will use an interactive lecture format, group discussions and other techniques to drive home the essential points of this material
  • We will build on your prior experience in this topic, while providing you with a structure and vocabulary to use in future projects.
  • You will receive a Student Guide which will help you follow the material, take notes and retain what you learned so that you can apply it on your job.
  • You will bring back to your workplace an entirely new way of thinking about project estimation.
Why should I take this workshop?
  • Winning the Estimation Game presents unique insights into the estimation process. Attendees should be able to make immediate use of the practical steps presented in this workshop.
  • Learn best practice you can use to prevent your estimates from being used inappropriately.
  • Discover how you can make best use of the estimates you are given.
  • Learn what you can do to make preliminary project budgeting a rational and useful process.

Every course and workshop in our Project Training program is fully customizable. We offer virtual delivery of the training program you need. Call us: +1.919.495.7371.

All of our courses are fully compliant with the latest release of each relevant standards document such as the PMBOK® Guide, Standard for Portfolio Management, BABOK® Guide, and others.
Course Information
Course ID: 7016
Duration: Half Day
Class size: 6 or more
· PMP® certified instruction
· Student Guide
· Participation Certificate
· 3 PDUs

Download this course description as a printable PDF document.
Pricing Information
On-site discounts are available.
Ready to enroll?
Fill out the Training Request Form online or call 1-800-877-8129
(+1 919-495-7371)

Questions?  Please feel free to Contact Us

Training Providers:
License this courseware!  Call 1-800-877-8129
(+1 919-495-7371)
for more information.
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