Write around 300 words about the topic
I’m stuck on a Management question and need an explanation.
Think about the estimating approaches at your organization on projects, then answer following questions
Think about the estimating approaches at your organization on projects, then answer following questions
1. Write a brief description of the current estimating practices
2. List at least two strengths and weaknesses of the approach used
3. If you prefer the current method, then discuss how the process might be improved? If you don’t prefer the current estimating method, then provide a justification of why the method should be changed.
4. Which approach is best for the project on planning phase?
Answer preview
Project management involves activities like planning and allocation of the required resources. For the stakeholders to agree to provide resources, they need an estimation. Currently, my organization deals with IT projects. The estimating method used is bottom-up. This method involves activities like identifying all the project activities. Then a precise estimation of time and other requirements is developed. To achieve this, the development team may create a work breakdown structure to list all the activities along with their deadlines.
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