Estimation Techniquesįollowing estimation techniques are commonly used in estimating a project scope:- Top-Down Estimating It gives accuracy in estimating a project by calculating how much time and effort is required to accomplish a task or activity, thereby aggregating to estimate the effort required to complete a superior component in the hierarchy. The WBS is designed to help break down a project into manageable chunks that can be effectively estimated, managed, and supervised.Ī WBS also provides the basis for a detailed duration and cost estimates. WBS is the hierarchical list of project’s phases, tasks, and milestones.Ī WBS is very useful in planning a project and makes a complex project more manageable. Step 1: Create a Work Breakdown Structure (WBS)Ī Work Breakdown Structure (WBS) is used for estimating the project scope by breaking it down into easily manageable components, or bites.
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