Discover the importance of good estimates and several ways to estimate project tasks.
- [Voiceover] Good estimates for work and costs…are important because those estimates…affect your project schedule and budget,…and those in turn could determine…whether it makes sense to run the project.…If your estimates are low, a project…might get approved when another project…would deliver better results.…In addition, low estimates make…meeting expectations almost impossible.…If you estimate too high, a worthwhile…project might not be approved, or a project…could take longer and cost more,…because people tend to use the…time and money you give them.…
There are two things you estimate…in projects, time and cost.…You estimate time, because it affects…both the project schedule, and cost.…Second, you estimate costs that aren't time-based,…like materials you need, or travel required.…During initiation and planning,…you work with a core planning team…made up of people knowledgeable about the project.…This planning team helps you develop your initial estimates.…Later on, during project execution,…you can obtain more accurate estimates…
Bonnie Biafore has always been fascinated by how things work and how to make things work better. In this course, she explains the fundamentals of project management, from defining the problem, establishing project goals and objectives, and building a project plan to managing team resources, meeting deadlines, and closing the project. Along the way, she provides tips for reporting on project performance, keeping a project on track, and gaining customer acceptance.
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Defining the components of a project
- What it takes to be a project manager
- Using project management software like Microsoft Project
- Managing project scope, budget, and schedule
- Managing project resources, including people
- Managing project risk
- Initiating a project
- Identifying and managing stakeholders
- Identifying requirements and deliverables
- Developing a project plan
- Building a project schedule
- Assigning resources to tasks
- Understanding the critical path
- Running the project
- Managing teams
- Monitoring performance
- Closing a project
Skill Level Beginner
1. Getting to Know Project Management
2. Exploring Project Management Knowledge Areas
3. First Things First
How to develop requirements4m 19s
4. Developing a Project Plan
5. Building a Project Schedule
6. While You Run the Project
7. Working with Teams
8. Monitoring and Controlling Progress and Performance
9. Closing a Project
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