Project Estimation Best Practices in a Multi-Project Matrix Environment
Resource estimation in a multiple-project, shared-resource matrix environment must be a collaborative effort between resource managers, project managers, and portfolio managers. Most organizations rarely have these roles work together in the formation, application, tracking and correlation of resource and project estimates. They also rarely collaborate in developing the tools to be used – and thus the tool suite is designed in a silo-based approach with a specific purpose in mind: portfolio management system, resource management system, project management lifecycle; and project schedules. This workshop will discuss the knowledge which can and must be shared in order for estimation to become more accurate and for critical resources to be used more effectively.
What You Will Learn
- Recognize the different types of estimates and estimating processes and use the variety of tools which can be used to determine and track estimates
- State the definitions of precision, accuracy, assumptions, constraints, uncertainty and risk
- Apply the use of a phased or gated project life cycle in the continual refinement of estimates
- Collaboratively share estimating information within the organization and continually update the resource and project forecasts
- Know the distinction of the roles and responsibilities of Project Managers, Resource Managers, Portfolio Managers, and Project Team Members
- Refine estimates based on tracking and communicating status, progress and forecasting
PDU Allocation TableThe table below displays the number of professional development units (PDUs) awarded for each PMI® credential, as they align to the PMI Talent Triangle®. Leadership and Strategic PDUs apply evenly across all credentials and Technical PDUs apply only to specific credentials. PDUs will be added in full to all eligible credentials.