Practice Standard for Project Estimating - Second Edition

Master Project Estimating for Project Success

Accurate project estimation is vital for successful project management. This practice standard provides models for project management professionals in plan-driven and agile life cycles.

Developed within the framework of the PMBOK® Guide, this standard focuses on providing models for project management professionals in both plan-driven and change-driven adaptive (agile) life cycles. It describes aspects of project estimating recognized as good practice, widely recognized, and consistently applied.

• Improve estimation accuracy
• Manage project costs effectively
• Adapt to changing project requirements
• Mitigate project risks

This standard is targeted to all practitioners within projectized organizations, not just project managers.

The PMI serves more than 2.9 million professionals including over 500,000 members in 208 countries and territories around the world, with 300 chapters and 10,000 volunteers serving local members in over 80 countries. Its services include the development of standards, research, education, publication, networking-opportunities in local chapters, hosting conferences and training seminars, and providing accreditation in project management.