Project Estimating Techniques: Analysis and Comparison Report

This report analyzes different project estimating techniques, focusing on the three-point estimation and triangular distribution. The report discusses the application of these techniques and compares them to other methods. It also includes a discussion on the role of a project manager in the estimation process, emphasizing the importance of accurate data and informed decision-making. The report draws on case study insights to explain the selection of the triangular distribution technique for improving the accuracy of estimates and adhering to project deadlines and budgets. References to relevant literature are also included.

Running head: THE ESTIMATING PROBLEM
The Estimating Problem
Name of the Student
Name of the University
Author’s note

1THE ESTIMATING PROBLEM
Table of Contents
1. Number of different estimating techniques used.........................................................................2
2. Comparison of better estimation technique.................................................................................2
3. Particular estimate to be used......................................................................................................2
References........................................................................................................................................3

2THE ESTIMATING PROBLEM
1. Number of different estimating techniques used
The estimating technique that was used within the present situation is the three-point
estimation technique. Using this technique of estimation, the optimistic time was set at four
weeks, while the likely time period should had been thirteen weeks and pessimistic time was
estimated at sixteen weeks (Verzuh, 2015). During the progress of the project, it was further
discussed that with the use of triangular distribution, each of the estimates would have an equal
likelihood of occurrence.
2. Comparison of better estimation technique
With the variety of estimation techniques, the project manager should be efficient for
measuring those estimates. Based on this, they would be able to gain better information about the
about best estimation technique as per the requirements (Danelljan et al., 2014). Good quality
data forms an integral part for gaining information about the use of the proper estimation
technique. Published information is also another source for gaining an idea over the estimation.
The project manager should properly understand the scenario and thus decide on the proper
measures of performing an estimation over the data.
3. Particular estimate to be used
As per the insights gained from the provided case study, I being the project manager
would have personally chosen the triangular distribution technique for estimating within the
context. With the impact of this estimation technique, it would be helpful for me to improve the
accuracy over one-point estimates. I would also be able to commit towards the deadline and
budget of the project.

3THE ESTIMATING PROBLEM
References
Danelljan, M., Häger, G., Khan, F., & Felsberg, M. (2014). Accurate scale estimation for robust
visual tracking. In British Machine Vision Conference, Nottingham, September 1-5, 2014.
BMVA Press.
Verzuh, E. (2015). The fast forward MBA in project management. John Wiley & Sons.