Originally posted by Ilja Preuss:
I've never used FPA, but from what I've heard, it's a complex process to come up with a project estimate that is roughly equivalent in reliability to a gut feel guess of an expert.
Originally posted by Rafael Fagundes:
It�s correct when you say "a process to come up with a project estimate"! Estimate of effort (mens by hour), for example, to have some project concluded in a give schedule.
I do not agree when you say "it�s a complex process"! As any discipline you need to learn some theory to deal with.
For the same pourpose, there is the COCOMO (Constructive Cost Model) methodology.
You can also try to get project estimates through statistical methods. And this is what I call complex way.
PS: sorry for my bad english!
Originally posted by Conrad D'Cruz:
There are several ways to do estimates ... analogous (gut feeling), expert judegment (very strong gut feeling), parameteric estimating, and then PERT (3-pt estimates).
Some organizations have come up with very good "science" for estimation (especially the outsource and contracting companies).
Estimates are import (both time and cost) but during execution and M&C of a project the EVM (earned value method) is more important to track the health of the project against the baseline.