Discussion Response (150 words each)

How many different estimating techniques were discussed in the case?

     According to me, there were two major estimating techniques which were mentioned in the case study. First estimating technique was the three-point estimation technique which was used by estimating group to calculate the work and resulted in final estimation of twelve weeks. Initially, according to them the optimistic time was four weeks, the most likely time was thirteen weeks and the pessimistic time was sixteen weeks as per three-point technique. Later, Barbara made estimating group use the triangular distribution which falls under the three-point technique with little deviation. Due to which estimating group came up with the final estimate of thirteen weeks. In the triangular estimation technique, each of the three estimates namely optimistic, most likely, and pessimistic have an equal likelihood of occurrence (Kerzner, 2013).

    Second estimating techniques used was Analogous estimating technique, in which we keep complexity of the project into consideration. Analogous technique was suggested by Peter with his work experience and, also in such techniques complexity of the current projects work package needs to be compare with the similar work package which were done in past. Final estimation derived from this technique was 16-17 weeks, which was close to reality as per Peter’s calculation and experiences.

 

If each estimate is different, how does a project manager decide that one estimate is better than another?

     Each project is different from one another, so do the techniques. Every project has its own need, some of them focus on cost and other may be focus on time or resources. Projects are of various sizes as well, like small, medium, or long projects. While deciding the techniques, one should keep these criteria in mind. For example, one should use the triangular distribution technique when a project is small, it works on judgmental data estimates and used when not much experienced is required. On the contrary, one can use Analogous technique when the project is complex like the way we had in case study. In this technique earlier similar project’s scope of work, resources schedule, budgets and timelines need to be considered to get an accurate estimate of an existing project. So, project manager must keep all these points in mind while deciding the estimating techniques along with the estimating group and experienced people in the team.

If you were the project manager, which estimate would you                                              use?

     If I would be the project Manger then I would choose Analogous technique over any other method, especially for a complex project like this. Analogous techniques are suitable for complex projects, where I would investigate the similar older projects and compare with my existing project and derive estimates. Along with that, I would take suggestions from the Subject matter expert like we had Peter in the case study for more suggestions.

                                          

References

Kerzner, H. (2013). Project Management: A systems approach to planning, scheduling, and controlling (11th ed.). Hoboken, New Jersey: John Wiley & Sons

Crump, K. (2015, April 6). 5 successful methods of project estimation. Retrieved from https://www.liquidplanner.com/blog/5-methods-of-project-estimation/