![]() If you’ve done many similar projects in the past, and the average completion time was ten months, you may estimate this project will take ten months.īottom-up approaches estimate each task or activity and then combine those task durations to create an overall project duration. Top-down approaches create an overall project duration estimate, and they are typically based on benchmarks and past projects. You can either estimate project duration from the top down or the bottom up. There are multiple ways to conduct project management time estimation, but most methods can be grouped into one of two buckets. If nine months is a realistic estimate, your team overperformed and should be rewarded for their efforts. If six months is a realistic estimate, then your team underperformed. It’s impossible to say without knowing how long the project should have taken. Suppose your team completed a project in eight months. It’s also difficult for senior leadership and clients to determine whether a project has been successful when there’s no estimate to compare it to. ![]() Idle employees if projects finish and no other work has been lined up.Inefficient employees since there is no pressure to complete work by a set time.Upset customers wondering when they’ll receive deliverables.Not ordering materials early enough to arrive on time.Not having resources available when you need them.This inability to estimate project duration can lead to multiple problems, including: Having a milestone trend analysis is crucial to your project as it helps your whole team have a clear vision of the future. If you cannot estimate project duration, you won’t know how long your overall project will take or when you will reach certain stages or milestones. Project management is a game of precision. Why is it important to estimate project duration? So, how do you strike a happy balance? Read on to learn how to achieve realistic project duration estimates for your future projects. Either your deadline is too ambitious and there’s a risk of disappointing your customer, voiding your time and material contracts, or burning out your team or you’re too conservative when you estimate project duration, which can result in people standing around idle. When it comes to project management time estimation, there are a couple of likely scenarios. Knowing how to estimate project duration can help teams become more efficient and improve on-time and on-budget delivery. Project managers often underestimate the amount of time needed to implement projects, which results in missed deadlines or teams rushing and overworking themselves to get the job done.
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