Estimating Project time and scope

After reading this chapter you should be able to:
5-1 Understand estimating project times and costs are the foundation for project planning and control.
5-2 Describe guidelines for estimating time, costs, and resources.
5-3 Describe the methods, uses, and advantages and disadvantages of top-down and bottom-up estimating methods.
5-4 Distinguish different kinds of costs associated with a project.
5-5 Suggest a scheme for developing an estimating database for future projects.
5-6 Understand the challenge of estimating mega projects and describe steps that lead to better informed decisions.
5-7 Define a “white elephant” in project management and provide examples.

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