Reply: Project Estimates

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Message	Write Preview [quote="Cornelius Fichtner" post=3249]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.[/quote]

Topic History of : Project Estimates

Max. showing the last 6 posts - (Last post first)

11 years 1 week ago #3249
Cornelius Fichtner	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.

11 years 1 week ago #3249

Cornelius Fichtner

Cornelius Fichtner's Avatar

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.

11 years 1 week ago #3244
Fadi Sodah	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%

11 years 1 week 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%

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