Discussion Response (150 words each)

1. How many different estimating techniques were discussed in the case?

In my opinion, there were two main estimating techniques discussed in the case study. The first technique mentioned is the three-point estimate having the three possible outcomes. This is the technique that the estimating group uses in their calculations. A variation of the three-point estimate, called the triangular distribution is mentioned, where all the three outcomes in the three-point estimate have an equal likelihood of occurrence (Kerzner, 2013). The second technique mentioned in the case study refers to analogy estimating. This technique involves comparing the varied complexities of the work package of a given project to similar work packages completed in the past. Such a technique develops an 'expert opinion' among the professionals, a quality that Peter demonstrates when Barbara asks for his opinion towards the end.

2. If each estimate is different, how does a project manager decide that one estimate is better than the other?

Different estimating techniques work in different ways. Some techniques, like the three-point estimate technique works fairly accurately for smaller projects. However, bigger and more complex projects would require a different approach and consequently a different estimating technique. As mentioned in the case study, the analogy estimating technique is useful in more complex projects. Therefore, it can be concluded that a project manager should take a close look at all the different factors relating to the project including the scope, complexity, resources etc. and then choose the most appropriate estimating technique in order to get the most accurate estimate.

3. If you were the project manager, which estimate would you choose?

If I was the project manager, I would have definitely chosen the analogy estimating technique. This technique is much more accurate than the three-point estimating technique when the projects under consideration are large and complex. The first step I would have taken would be to consult an expert on the said work (Peter in this case) and trusted his opinion regarding the choice of the estimating technique and intimate the estimating group accordingly. Consulting the expert right of the bat would save valuable time that could be utilized towards the successful completion of the project.

References

Kerzner, H. (2013). Project management: A Systems Approach to Planning, Scheduling, and Controlling (11th ed.). Hoboken, NJ: John Wiley & Sons.