Estimates are just hypotheses. As a hypothesis, if you have more data, it will be great. If not, we try to come up with 3 types of estimates - optimistic, realistic, and pessimistic. All these are communicated with the stakeholders, so it's clear from the beginning. If we see that something is not going in the right direction, immediate communication is needed.
Great article, Akash, and thank you for including my latest article in your top picks!
Absolutely, Petar, I liked how you say estimates are just hypothesis. Behind every good estimate, people are fighting their inherent optimism bias. Thanks for sharing, glad you liked it.
Engineering project estimation involves predicting the costs, resources, and time required to complete a project successfully. This process, also known as construction estimation, is crucial for budgeting and planning, ensuring that projects stay within financial limits and are completed on time. Accurate <a href="https://constructionestimations.com/">construction estimations</a>
helps in allocating resources efficiently and avoiding unexpected expenses.
Estimates are just hypotheses. As a hypothesis, if you have more data, it will be great. If not, we try to come up with 3 types of estimates - optimistic, realistic, and pessimistic. All these are communicated with the stakeholders, so it's clear from the beginning. If we see that something is not going in the right direction, immediate communication is needed.
Great article, Akash, and thank you for including my latest article in your top picks!
Absolutely, Petar, I liked how you say estimates are just hypothesis. Behind every good estimate, people are fighting their inherent optimism bias. Thanks for sharing, glad you liked it.
Great article, estimating project is inaccurate, enjoyed reading the post. Highly recommend it.
Good one.
Estimation is a very underrated skill.
100%, yet pretty much all of us are doing it anyway. Quarter in, quarter out, lol.
Thank you for the mention Akash, glad you liked the article!
Rate limiting is a great topic, well deserved.
Engineering project estimation involves predicting the costs, resources, and time required to complete a project successfully. This process, also known as construction estimation, is crucial for budgeting and planning, ensuring that projects stay within financial limits and are completed on time. Accurate <a href="https://constructionestimations.com/">construction estimations</a>
helps in allocating resources efficiently and avoiding unexpected expenses.
Great approach Akash! I would love to see more on this topic, really helps! Thanks👏🏻