Module 01: Introduction to Project Management Estimating and Forecasting
- Estimating and Forecasting in Project Management
- Difference between Estimating and Forecasting
- Overview of Project Management Phases
- The Role of Estimating in Project Planning
- Key Terminologies: Baseline, Scope, Resources, and Deliverables
- Overview of Estimating Techniques and Approaches
- Common Pitfalls in Estimating and Forecasting
Module 02: Types of Estimates in Project Management
- Analogous Estimating (Top-Down)
- Parametric Estimating
- Three-Point Estimating (PERT)
- Bottom-Up Estimating
- Expert Judgment Estimating
- Reserve Analysis (Contingency Planning)
- Choosing the Right Estimation Approach
Module 03: Scope Definition and Its Impact on Estimation
- Work Breakdown Structure (WBS)
- Decomposing Scope into Deliverables and Tasks
- Defining Scope for Accurate Estimation
- Linking Scope to Time and Cost Estimation
- Managing Scope Creep
- Identifying and Handling Assumptions in Scope
- Integrating Scope and Estimation with Project Charter
Module 04: Resource Estimating Techniques
- Identifying Resource Requirements
- Resource Loading and Leveling
- Estimating Human Resources (Labor Costs)
- Estimating Material and Equipment Costs
- Role of Resource Calendars in Estimating
- Estimating External and Subcontractor Resources
- Managing Resource Constraints and Availability
Module 05: Cost Estimating Fundamentals
- Direct vs. Indirect Costs
- Estimating Fixed and Variable Costs
- Cost Baseline Development
- Tools and Techniques for Cost Estimation
- Cost Estimation in Agile vs. Traditional Projects
- Managing Cost Overruns and Variability
- Sensitivity Analysis for Cost Risks
Module 06: Time Estimation and Scheduling Techniques
- Developing the Project Schedule
- Duration Estimation for Tasks
- Critical Path Method (CPM)
- Program Evaluation Review Technique (PERT)
- Monte Carlo Simulation for Time Forecasting
- Impact of Time Estimation on Cost and Resources
- Managing Schedule Risks and Delays
Module 07: Risk Management and its Role in Estimating
- Identifying Risks in the Estimation Process
- Risk Quantification and Analysis
- Incorporating Risk into Cost and Time Estimates
- Contingency and Management Reserves
- Sensitivity and Scenario Analysis for Risk
- Mitigating Estimation Risks
- Risk Monitoring and Updating Estimates
Module 08: Forecasting Techniques in Project Management
- Difference between Estimating and Forecasting
- Forecasting Methods
- Tools for Project Forecasting
- Earned Value Management (EVM) for Forecasting
- Forecasting Project Completion Times
- Forecasting Cost-to-Complete (EAC, VAC)
- Real-time Adjustments to Forecasts
Module 09: Software Tools for Estimating and Forecasting
- Overview of Project Management Software
- Features and Functionalities for Estimating and Forecasting
- Automation in Estimating and Forecasting Tools
- Use of Spreadsheets in Estimating (Excel)
- Integrating Software Tools with EVM
- Cloud-based Tools for Real-Time Forecasting
Module 10: Agile Estimating and Forecasting Techniques
- Agile vs. Traditional Estimating Approaches
- Story Points and Velocity in Agile Estimation
- Sprint Planning and Forecasting in Agile
- Cost and Time Estimation in Agile Projects
- Burn-down and Burn-up Charts for Forecasting
- Adapting Estimation for Changing Scope in Agile
Module 11: Estimation in Complex and Large Projects
- Challenges of Estimating in Large Projects
- Managing Uncertainty and Complexity in Estimating
- Techniques for Multi-Phase Project Estimation
- Estimating for Megaprojects
- Resource and Cost Estimation in Complex Projects
- Breaking Down Large Projects for Better Estimates
Module 12: Stakeholder Involvement in Estimation and Forecasting
- Role of Stakeholders in the Estimation Process
- Managing Expectations with Accurate Estimations
- Presenting Estimates and Forecasts to Stakeholders
- Incorporating Stakeholder Feedback in Estimating
- Negotiation and Conflict Resolution in Estimating
- Balancing Stakeholder Demands with Realistic Forecasts
Module 13: Ethics in Project Estimating and Forecasting
- Ethical Challenges in Estimating
- Avoiding Over-Optimistic and Underestimating Bias
- Transparency and Accountability in Estimating
- Managing Conflicts of Interest in Estimating
- Ethical Guidelines for Forecasting and Budgeting
- Integrity in Communicating Estimates and Forecasts
Module 14: Estimating for Risk-Heavy Projects
- Identifying High-Risk Projects
- Techniques for Estimating in Uncertain Environments
- Scenario Planning for Risk-Heavy Projects
- Using Monte Carlo for Risk-Heavy Forecasts
- Contingency Reserves and Risk Buffers
- Real-Time Adjustments in Risk-Heavy Projects
Module 15: Communication Strategies for Estimates and Forecasts
- Tailoring Estimations for Different Audiences
- Communicating Uncertainty in Estimates
- Presenting Forecasts Effectively to Senior Management
- Visual Tools for Communicating Estimates
- Managing Stakeholder Concerns in Communication
- Building Confidence in Estimates and Forecasts
