Estimating Project Duration
The guys over at Open Loops have written a post on estimating how long it takes to complete a project (I knew algebra would come in handy one day!).
Basically you use the following formula to work out the duration:
Te=(To+4Tm+Tp)/6
Key:
- Te = Realistic time estimate
- To = Most optimistic time estimate (the Sunny Side estimate with no setbacks)
- Tp = Most pessimistic time estimate (with every obstacle happening)
- Tm = Most probable time estimate (this makes you think realistically; some setbacks happen, others don’t)
View the full article “Estimating Realistic Project Times”
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“well atleast u got the algebra if not the English ‘new’? Surely u mean ‘knew’ ;-)”
“I new that 😉 I was just testing!”
“I would normally add on at least 10% for contingency too!”