Project estimation checklist

The purpose of this project estimation checklist is to help you determine whether planned goals and objectives have been actually achieved at the end of your project. The checklist consists of three parts allowing you to estimate effort, duration and costs of your project.

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• Effort. Project effort is an amount of working hours, as well as a number of project resources required for developing and accomplishing your project. The total effort hours required for accomplishing the project includes the following types:
• The initial time for each activity and for the entire project.
• The estimate of part-time resource hours (it includes working hours that can be spent by freelancers, training specialists, legal, administrative, etc.)
• The estimate of re-work (your project plan won’t be ever perfect, so consider including additional hours to re-work or redesign project deliverables).
• The estimate of project management time (you also need time to plan your project and address it to everyone involved).
• The estimate of contingency hours (it usually takes up to 5% of the total effort hours and reflects uncertainties and risks associated with your project).
• Calculate the total effort hours by adding all the listed estimates to get the highest accuracy.
• Keep the total effort hours recorded in proper documents

• Duration (timeframes). Duration and time commitment for your new project can be defined and estimated considering the following steps:
• Identify deliverables associated with the project. For example, upon completion of web designing, you will provide your customer with a new website design by sending the client form on a CD/USB drive with the working files.
• Break your project into simple tasks, so you will get the whole project duration consisted of small time periods required for completing simple tasks. Besides simple tasks, some techniques recommend creating two-level todo lists consisted of simple tasks.
• Make simple tasks consistent with each other, so completion of one task will result in starting of the next task. Some models use SMART method as an effective way to associate and logically link tasks.

• Costs. Project estimating and cost management are linked to each other. After you’ve estimated effort and duration, it’s time to measure project costs. Your project always includes two metrics: labor costs and non-labor costs. Let’s review these metrics in detail.
• Labor costs can be external (when you have external contracts or you hire consulting resources) and internal....

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