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TOPIC: Question Project Estimates

Project Estimates 4 years 9 months ago #3244

  • Fadi Sodah
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Project estimates are not consistent across the books, can I use these Estimate for the EXAM
ROM= +/- 50%
Budget Est -10% to 25%
Definitive +/- 10%

OR

ROM= -25% to +75%
Budget Est -10% to +25%
Definitive -5% to +10% or -10% to 15%

Project Estimates 4 years 9 months ago #3249

  • Cornelius Fichtner
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We have this explanation in our Formula Study Guide, which you can find at www.pm-formulas.com :

The Estimate Ranges Disagreement

We often receive questions from students about the fact that they see different numbers for the “Estimate Ranges” when they compare various training materials. That is true, because there is unfortunately no final authority that defines these ranges.

There is disagreement both on the names as well as on the actual ranges. Some books set the ROM at -25% to +75% others at -50% to +100%. This is not surprising because estimate ranges are both application area and industry dependent. Everyone does it slightly differently in their industry and on their projects. So it really isn't surprising that you will see different numbers in different books.

The numbers that we provide in the table above have been successfully used by our students on the exam, so we believe them to be a good approach for the exam.
Until Next Time,
Cornelius Fichtner, PMP, CSM
President, OSP International LLC
Last Edit: by Cornelius Fichtner.
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