Assumptions & Constraints
Any assumptions and constraints that were required to generate a set of estimates. This isn't a repeat of project assumptions but applies to the estimates themselves. For example, assumptions that were made to generate a list of comparable projects for estimate benchmarks.Attachments
Identify the version of requirements, risk registers and other project artifacts that are the basis of the estimate. Attach any source documents such as price quotes from suppliers.Estimate Summary
A high level summary designed to communicate the estimate to all stakeholders such that it can be easily understood.Procedure
A description of the estimation procedure. For example, describing a bottom-up estimation process of identifying tasks and having subject matter experts estimate each. Include details of calculations or algorithms.Guidelines
Principles that are used to guide estimates. For example, a principle of using three point estimates to estimate complex tasks.Bottom-up Estimates
If bottom-up estimates are used the details are included at the level at which estimates were produced, typically the task level.Parametric Estimates
The details of any calculations or algorithms that were used to generate estimates. Algorithms are sufficiently explained in plain language such that they aren't a mystery.Analogous Estimates
Any comparisons that were used to generate or validate estimates based on your historical projects. The details of the historical projects used are listed.Reference Class Forecasting
Any benchmarks that were used to generate or validate estimates using a database of similar programs, projects and initiatives. The details of relevant database entries are listed.Third Party Estimates
Details of price quotations and other estimates provided by third parties.Contingency
Details of contingency added to an estimate to account for risk. Potentially includes confidence intervals for estimates.Analysis
Details of any analysis related to the estimates.Validations
Details of sanity checks and validations that were performed. For example, a bottom-up estimate technique that is validated with reference class forecasting.Approvals
An audit trail of approvals for the estimate.| Overview: Basis Of Estimate | ||
Type | ||
Definition | A document that describes exactly how an estimate was calculated. | |
Related Concepts | ||
