cost estimates are the most important basis for planning for project managers dar. from the estimated effort and the resources available, resulting in the project schedule. Naturally, the cost estimates made early in the project and often at this time is still little information available about details of the work packages.
Traditional methods of cost estimation are:
- estimates analogy: if a content comparable care was provided in a previous project, can the cost estimate in which the size of the two projects and compares the known costs of the preliminary project calculates the expected effort.
- experts estimate : applied most accurately as a bottom-up estimate, broken down this process, the easier tasks first in manageable parts. These are then reviewed by experts (ie people who have enough experience in the implementation of the required work packages).
- calculation method: if there are applicable metrics (eg Function Points, Lines of Code or cubic meters) to which statistical cost figures are known, they can be used for cost calculation.
- a preliminary study is used to gain basic information for the estimation to assess risks and to prove if the technical feasibility. Often, results of the preliminary work will continue to be used, the primary goal, however, the quality of the actual project planning increase.
- the realization project is only at the end the preliminary progress and positive decision (now having the expected costs) was initiated. It is the actual performance and should (shall allow at least the business base for the preliminary study) by the higher planning quality in a considerably lower risk costs have.
