Fundamentals Of Project Management

Exactly three minutes an exact estimate is an

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: very time. The person’s attention is diverted by a loud noise outside. He drops a card while sorting. He gets tired. And so on. Can you get rid of the variation? No way. Can you reduce it? Yes. Through practice, by changing the process by which the work is done, and so on. But it is important to note that the variation will always be there, and we must recognize and accept it. Previous Table of Contents Next Products | Contact Us | About Us | Privacy | Ad Info | Home Use of this site is subject to certain Terms & Conditions, Copyright © 1996-2000 EarthWeb Inc. All rights reserved. Reproduction whole or in part in any form or medium without express written permission of EarthWeb is prohibited. Read EarthWeb's privacy statement. Fundamentals of Project Management by James P. Lewis AMACOM Books ISBN: 0814478352 Pub Date: 01/01/95 Search Tips Search this book: Advanced Search Previous Table of Contents Next Title ----------- Improving Estimating Ability The more times you do something, the better you get at estimating how long it and similar tasks will take the next time you do them. This suggests that very inexperienced people will typically make bad estimates—which is usually the case. Edward Russo and Paul Schoemaker, in their book Decision Traps, relate a story about Royal Dutch Shell that provides a nice solution to the problem. Royal Dutch Shell found that its senior geologists were considerably better at analyzing geological surveys to predict where to drill for oil than were its recently graduated geologists. Even the senior geologists have a fairly low “hit rate,” but for new graduates the outcomes were much worse. Royal Dutch Shell started a program in which new graduates were given survey data of areas that had already been drilled. They were then asked to predict the results of drilling in these areas. They were then told what had actually happened. In a very short time, the new graduates were predicting as accurately as the old-timers. A project should be audited at major milestones, with spreads no greater than three months. Beyond that time, memories are not reliable. This illustrates a very important point: learning does not take place unless there is feedback on results. If an organization never looks at results and studies the causes for those outcomes, the people involved tend to repeat the same mistakes. The Hazards of Estimating Consider the case of Karen. One day her boss stopped by her desk at about 1 o’clock. “Need for you to do an estimate for me,” he told her. “Promised the Big Guy I’d have it for him by 4 o’clock. You with me?” Karen nodded and gave him a thin smile. The boss described the job for her. “Just need a ballpark number,” he assured her. Given so little time, Karen could only compare the project her boss described to one she had done about a year before. She added a little for this and took a little off for that, put in some contingency to cover her lack of...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online