Saturday, December 19, 2009
Nui – 11th blog
This week I reading Humphrey Chapter 27, Tracking the Estimate, and Compare to my real work.
Objective of Tracking Estimate is to justify the variance and understand it to prepare more accurate estimate in the future (Cited from Project Management Using Earned Value, Humphrey & Associates, p. 555). And to improve accuracy over time – continuing feedback of actual costs consistent with the estimated costs, allowing estimating standards to be revised when necessary. (Cited from Project Management Using Earned Value, Humphrey & Associates, p. 559)
I would say that my organization had realized this advantage and start implemented this idea around last year. And I am the one who prepare the report to compare plan versus actual and feedback to estimated team. But I think this is just start because I have not seen that the estimated team fully utilizes this information in such the way to improve estimating standards in order to guide each individual person to estimate in the same way/assumption.
From our organization point of view, this kind of report is considered in term of Historical and Vertical traceability which able to accurately summarize data with no exclusions, no doubtable counting, and correct summation totals. (Cited from Project Management Using Earned Value, Humphrey & Associates, p. 559)
When I looking through Figure 27.4 in Project Management Using Earned Value, Humphrey & Associates, p. 560. I realize that my report is few values to the estimated team. I did only comparison of plan and actual for each implementation site by separate each type of resource.
What I could do to add more value to my report are- In the summary level, I should group it to category of resource type. For example: internal resource (man-hour), External resource (man-hour and task) and expense. In order to know that how good of the estimation in each type of the estimator.
- I should also distinguish the Estimate omission or duplication in the summary in order to reflect and emphasize if there is any misunderstanding of intended scope from estimator such as missed component redundancy, overlooked items, or inadvertent double budget. (Cited from Project Management Using Earned Value, Humphrey & Associates, p. 560)
But one more thing that I would refuse to do is tracking the changes of schedule changes, estimate refinement. Because when schedule and revisions (revised productivity values, quantity variations, invalid estimate assumption) change is hard to split the cost in term of recording into the cost account. If it is necessary, I think project manager is required to analyze the data and judge it from their project information rather than keeping record separately which could confuse the resource to book to cost and also increase maintenance work.
Finally, I would like to thank you to Dr.Paul again. From what you ask me to write what I have learned and apply to work in the blog every week. Because I have to push myself to think more and more how I use what I learn apply to my real work. Since my young learning experiences, I never practice like this before which it is the most worthy part of the entire learning.
Good post as usual...... And nice citations.....
BUT, why are you citing Humphrey's only? What does your OTHER references have to say about estimates?
What is it Engineering Economy has to add? Or what does Skills and Knowledge have to recommend?
While Humphrey's is one of my favorite books, it really doesn't go very deep in terms of HOW to put together an estimate...... What should it include?
If you really want to get the most out of this course, look at all your references at the same time, as each one adds something the other has missed....
Keep up the good work and looking forward to seeing the first draft of your paper shortly!!
BR,
Dr. PDG, Jakarta
Yes,I missing other book reference. Thank you for your comment. And now I consider cost estimation technique in my paper now, in order to advice to my organization including keeping historical database for future cost estimation.
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