How to do Effective Estimations?
Think of estimations as charting the course for your project. Estimation is more an art than a science. Understand that it's not about absolute facts; assumptions play a crucial role here. Master data is your reliable companion and should be well-maintained and up-to-date as it acts as the linchpin for refining your estimates. Embrace assumptions as integral components of your estimation toolkit. Draw insights from prior projects and use them as reference points. To streamline the process, craft templates tailored for common cloud scenarios.
Factors Driving Effort -
Completing a project well depends on how much work you put in. There are four big things that decide how much work you'll need—these are the basic factors:
1. What the Business Needs:
The more the project has to meet specific business needs, the more effort it takes.
2. How Complicated the Plan Is:
If the project's plan is complicated, you'll need to put in more effort. It's like climbing a big hill—the higher it is, the more effort it takes to reach the top.
3. Extra Requirements Like Speed or Security:
If there are extra things the project needs, like being quick or really secure, that adds to the effort.
4. Sorting Out Roles and Responsibilities:
Figuring out who does what in a project (it is known as RACI - Responsible, Accountable, Consulted, Informed) needs a good amount of effort to make sure everything runs smoothly.
Now, there are a few more things that can add to the effort:
1. Keeping the Client Happy:
If making the client happy is a big goal, that means more effort. It's like going the extra mile to make sure everyone's satisfied with the result.
2. Dealing with Risks:
If there are things that might go wrong, dealing with them needs extra effort. Be ready for unexpected twists and turns.
3. Checking If the Client Can Keep Up:
Depending on how capable the client is, you might need more or less effort. It's like adjusting your pace based on who you're working with.
4. Learning From Past Experiences:
If you've done similar projects before, it can make things easier. It's like having a playbook from past experiences, so you don't have to figure everything out from scratch.
To Summarize -
Estimations are like business GPS, helping teams navigate growth. They're not just about resources; they're the cheerleaders giving teams a clear schedule and motivation. It's the roadmap to success, turning educated guesses into confident strides for business growth.
