14 -LDRS PM Risk Management and Estimation Fall 2023 Slides

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Oct 30, 2023

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Estimation and Risk Management
Agenda Questions on Industry Leader Interview Estimation Techniques Analogous Phase Parametric Bottom Up Risk Management Identifying Risk Assessing Risk Mitigating Risk You should be able to apply the estimation techniques to your project and create a risk mitigation plan. 10/22/2023 3
Project Planning 10/22/2023 4 Scope Project Methodology Work Breakdown Structure Roles and Responsibilities Risk Management Schedule Cost and Budget
Estimation Process 10/22/2023 5 Estimation Process Make Rough Top-down Estimate Develop WBS Make Detailed Bottom-up Estimate Reconcile the difference
Estimating Techniques Analogous Top Down Phase Estimation Parametric Estimation Task Estimation (WBS) - Bottom Up Ask the Experts Ask the Vendor equipment or contract Agile Planning Poker Pert Task Estimation 10/22/2023 6
Analogous Estimation is based on time of a similar project Form of top down estimate start from less specific to more specific Can be used to estimate a phase or a similar feature that is part of a project 10/22/2023 7 Research Feasibility Prototype Publish Total Project - Basic 4 weeks 6 weeks 12 weeks 4 weeks 26 weeks Project - Complex 6 weeks 12 weeks 30 weeks 4 weeks 52 weeks Project - Advanced 12 weeks 40 weeks 48 weeks 4 weeks 104 weeks What’s the time estimate to complete another research project with a complex scope?
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