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An Organization's Duration Estimating Database
AN ORGANIZATION’S DURATION ESTIMATING DATABASE is the best reference information to use for estimating activity duration when activity durations are not driven by the actual work content. Organizations involved in the project may maintain duration estimating databases and other historical reference data that can be useful in estimating activity durations.
Assumptions and constraints from the project scope statement are considered when estimating activity duration schedules. PMP preparation reviews assumptions and constraints.
An example of an assumption is the length of the project reporting periods, which can dictate maximum scheduled activity duration.
An example of a constraint on schedule activity durations would be document submittals, reviews, and similar non-deliverable schedule activities, which have frequencies and durations either specified by contract, or within the performing organization's policies.
INEFFICIENCY caused by lack of adequate quantities or skills or materials, equipment, and labor/personnel, will significantly influence the duration of most activities. PMP prep courses ...
... include examples of inefficiencies.
THE RESOURCE CALENDAR developed as part of the activity resource estimating process includes:
Availability and capabilities skills of human resources
Availability and capability of equipment and material resources
THE RISK REGISTER has information on identified project risks. These risks must be considered when producing estimates of activity durations, or when activity durations for risks must be adjusted.
COMPLETED ACTIVITY COST ESTIMATES can be developed to provide estimated resource quantities for each schedule activity in the project activity list.
RESOURCE QUANTITY and PRODUCTIVITY RATE
THREE-POINT ESTIMATES are activity duration estimates that consider the amount of relative risk involved in the original estimate. Three-point estimates are based on estimates that might be:
The most likely
Optimistic (best-case scenario)
Pessimistic (worst-case scenario)
Using a combined average of the three types of estimates provides a more accurate activity duration estimate than a single-point estimate.
Project teams can choose to incorporate additional time into the project schedule.
These additions are referred to as:
Buffers
Contingencies
Reserves
Time Reserves (amounts of time added to the schedule to compensate for recognized schedule risk).
THE CONTINGENCY RESERVE may be a percentage of estimated activity duration, a fixed number of work periods, or may be developed by quantitative schedule risk analysis.
Develop the project schedule—Develop Schedule:
SCHEDULING is essentially the converting of the project action plan into a functioning timetable which provides the basis for monitoring and controlling the project.
Not all project activities need to be scheduled in the same level of detail.
Kimberly Bloch, To Get the proper PMP Exam Preparation training to pass the pmp exam certification exam with flying colors. Visit the site- pmeducate.com, too for some useful hints on Project Management PMP.
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