How can you simplify time and resource estimates for project management?

Simplifying time and resource estimates in project management is essential for effective planning and execution. I'm currently using ZenHub as a Github plugin and its Kanban board provides an effective agile method to do sprints and estimates. Here are also some strategies to simplify this process: -Use Historical Data -Break Down Tasks -Leverage Templates -Estimation Techniques -Resource Pools -Resource Allocation Software -Risk Analysis -Use Historical Averages -Expert Consultation -Regular Updates -Communication -Documentation -Iterate and Learn This is an ongoing effort that requires a combination of experience, data-driven analysis, effective tools, and collaboration with the project team.

Once the project is broken down into smaller tasks, you can further break them down into sub-tasks if needed. This decomposition process allows you to understand the sequential or parallel nature of tasks, and determine any specific order or dependencies between them. Breaking down the project into smaller tasks is a crucial step in simplifying time and resource estimates. It helps in understanding the project scope, dependencies, risks, and assumptions, as well as in assigning roles and responsibilities. Visualizing and organizing tasks using tools like work breakdown structures, Gantt charts, or Kanban boards further aids in efficient project management and successful project execution.

I would love to see a Kanban board on a project that has thousands of work packages. I think Project Management posts have become too much IT-slated and limited to task management rather than real project management. Then, we wonder why projects fail!

Kanban Boards: They offer a more flexible way to manage workflow. Tasks can be moved from one column to another (e.g., "To Do", "In Progress", "Done") as they are worked on and completed. Team Alignment: Role Assignment: Once tasks are clearly defined, it's straightforward to assign them to team members based on skills and availability. Communication: Clearly laid-out tasks and dependencies make it easier to set expectations. This can be facilitated through regular meetings or via a project management tool where all members can track progress.

Divide the project into smaller, more manageable phases or milestones. This makes it easier to estimate time and resources for each phase individually, rather than trying to estimate everything at once.

Historical data can be very useful especially if there are similar projects , lesson learned comes of great importance as it does give you some flags either to take care of , take into consideration or even apply this can highly help in assisting and providing guidance to time and resource estimates , but again not all projects are the same even if similar but this is guideline that can help

Use the lessons learned database to review scheduling and estimating lessons. There's no point in using historical baselines as a basis for future estimates if they ultimately turned out to be wrong.

It's simpler said than done. In industries like construction, engineering, and IT, there are aspects of work that can be meticulously structured, tracked, and historically analyzed. However, when it comes to organizational projects and IT development and implementation, this type of analysis often seems nearly impossible due to several key challenges: - Lack of a universal Work Breakdown Structure (WBS) dictionary for the entire scope of work, as each project has its unique WBS. - Insufficient tracking of actual time and effort invested in each task, with project deadlines frequently shifting. - Task duration and effort are heavily influenced by the assignee's skill and their experience within the organizational context.

Historical data has much more got to do with project management as it could give bird's eye view or in depth detail. The more historical data or information is reviewed, the more it helps in understanding various projects and in planning. One such estimates is the Analogous estimate that could help arrive if a similar job was done in the past. It has its own pros and cos and need to understand fully before using this approach.

We need to be careful while using the Historical Data, as it can be misleading in many instances as well. For instance, in case of NPD, if any reiteration has been considered, due to lower experience of the team/organisation, then the future estimates can get distorted. So, various factors needs to be considered before applying this rule.

The Delphi Technique seeks consensus among experts via iterative questionnaires. Initially, experts answer independently, then responses are shared and refined in subsequent rounds, aiming for consensus. Example: A project manager aims to estimate a software project's duration. Gathering a panel of experts, they conduct several questioning rounds. Initial estimates range from 6 to 12 months. After three feedback rounds, a consensus of 9 months is reached. Through Delphi, diverse insights are harmonized, guiding the project manager towards a well-informed average estimate.

Another type of estimate is 'ballpark estimate'. It is an approximate initial assessment that relies on the broader objectives and obviously has significant degree of uncertainty. Since the deliverables are specifically undefined, this estimate is necessarily an imprecise approximation. It's important for a ballpark estimate to represent a range of possible costs rather than a fixed fee. This estimate is eventually known as rough order of magnitude (ROM). It is assumed to have an accuracy range between -25% to +75%.

It is a good practice to use more than one estimation technique, especially at an overall project level. By doing so, you are able to reduce the likelihood that something major has been missed.

My preference is to use the analogous estimating and the expert judgment method together. In large-scale and high-risk projects, I also apply the three-point estimating method along with two other methods. My aim is to reduce project risk in estimating cost or duration by applying the average of optimistic, pessimistic and most likely estimates. In the parametric estimation method, a sufficiently large data set created from similar projects is needed, and unfortunately, it is not always possible to create this data set in every organization.

To enhance your approach to time and resource estimates, consider adopting predictive analytics that utilize historical data to forecast future needs. This machine learning-driven approach refines itself over time, becoming increasingly accurate. Simultaneously, apply Agile methodologies to create adaptive, short-term sprints. This enables quicker adjustments to estimates, reducing the window of inaccuracy. For immediate adjustments, employ Real-Time Dashboards connected to key performance indicators (KPIs), flagging deviations that require immediate attention. By incorporating these innovative methods, you not only simplify estimates but also add a layer of intelligence that ensures more effective project delivery.

Risk Mitigation: I want to stress how important it is to factor in risk assessment during estimate reviews. Identify potential risks that could impact the project timeline and resource allocation. This proactive approach helps in creating more robust estimates that account for uncertainties.

Estimation tools are only as useful as the assumptions made when using them. If those assumptions aren't communicated, they can't be validated and can cause large variances down the road.

When choosing project management software, we take into account how much budget we allocate for these tools in our project. For projects in a corporate organization, this may not be a problem. PM software has already been selected. However, the license fee of a PM software is a problem for low-budget projects in SMEs. That's why project managers may choose open-source, free or those with relatively lower license fees, such as Freedcamp, Toggl Plan, Easy Redmine and Jira.

One thing I found helpful is taking a systems approach when applying experience, for example, an environmental scan might tell you that many organizations are going through digital transformation programs. So supply and demand might tell you that vendors and consultants supporting this technology change could be in short supply. Thanks for raising.

Even with all tools and techniques though used, there’s always unforeseeable factors that crops up. Buffer time is extremely important to manage other project priorities, shared resources, environmental factors, personnel unavailability, holidays, etc. When there is no full documentation with every obstacle faced, informal discussions with other PMs and resources will provide inputs. This has always helped me to determine the buffer time and handle situations better.

More AI garbage. A Gantt chart has nothing to do with estimating. No discussion of the importance of the project life cycle. Reviewing and updating is useful and important, but does nothing to simplify anything. The estimation tools listed are NOT estimation tools; they are data capture tools. I'd go on, but I've useful work to do.

Bill, I disagree my friend. And, yes, I do still value your contribution to the PMBOK in 96’. However, Gantt charts are crucial for estimating because they provide a visual representation that helps non-project management professionals understand project interconnections, timelines, dependencies, and critical paths. This visual clarity allows executives and planners to confidently commit to objectives and identify potential issues. Gantt charts are a valuable tool for estimating capacity and feasibility in their terms. For us PMP’s it’s not enough for us so we under-appraise their worth.

The crew sizes and calendars have an impact on activity durations and consecutively on project duration. I developed a new scheduling method for finding optimal crew sizes and calendars for project with repeated activities such that the project will be finished by a stipulated due date and also there is "smooth flow of work" for every crew. Given that a crew will not have any idle time in its entire effort (of a fixed amount) in the project, an increase in its size does not necessarily increase the cost. My method sees project schedule as a direct function of crew sizes and calendars rather than activity durations. The method optimizes schedule with respect to crew sizes and calendars.

The easiest way to improve the accuracy of labor estimates is not to do them :-) If team members are dedicated to one (highest priority) piece of work at a given time, there's no need to try to decipher what "50% availability" means...

Break down the project into smaller, manageable tasks or work packages, allowing for more precise estimation. Utilizing estimation techniques like analogous estimating, parametric estimating, or expert judgment can simplify the process by relying on proven methodologies. Also involve team members in the estimation process, as their expertise can provide valuable insights. Maintaining a clear and well-documented project scope, objectives, and requirements is essential to avoid scope creep, which can complicate estimates. Regularly reviewing and updating estimates as the project progresses helps ensure accuracy and adaptability. Ultimately, keeping estimates as simple and transparent as possible.