Manage This | Episode 195 | Estimate This: Managing Project Estimation
What obstacles do project managers commonly face when making project estimates? In this episode we delve into the intricate world of project estimation, aiming to demystify the process and highlight key factors essential for accurate projections. Project Managers Bob Mahler and Ren Love share insights on the realities we face when estimating projects, underlining the common gap between theoretical knowledge and practical application.
Some questions we address in this episode include what needs to be estimated on a project, essential factors for accurate estimates, and the influence of organizational culture on estimating. Other topics include the significance of historical data, participants in the estimation process, and strategies for managing costs in alignment with estimates. Bob and Ren also speak to the dangers associated with underestimating or overestimating project requirements or timelines and provide guidance on implementing a sensible estimating process effectively.
Bob Mahler brings over 20 years of project management experience to his role as Velociteach Senior Director of Business Development. His PM career began in the U. S. Army where he became a communications expert as a Green Beret. Bob’s technical skills led him to the telecommunications field where he managed a range of infrastructure projects for regional and national projects including disaster recovery projects. Ren Love is the Manager of Curriculum Development at Velociteach. Having started her career working in zoos, science centers and Disney’s Animal Kingdom before joining one of the Big Four accounting firms, Ren brings 10 years of unique management experiences. Bob and Ren are proud to introduce the new Project Estimating instructor- led course for group or corporate training, offered by Velociteach.