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Guidelines for Estimating Times and Costs

Guidelines for Estimating Times and Costs:

  • Determine responsibilities.
  • Use many people to estimate.
  • Base estimates on general conditions.
  • Select time units, and be consistent in their use.
  • Independence of estimation from other tasks – ensure objectivity.
  • Build in contingencies.
  • Add in risk assessment to assist stakeholders and refine their expectations.

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