Estimation techniques - work breakdown structure

Estimation techniques Insert Insert Estimation techniques I. Work breakdown structure It is used in planning effectively for a project by breaking down the key tasks or activities into smaller manageable units of work.
Advantages
They can be used to effectively control projects while showing greater accountabilities
It can be used in identifying and managing risks
It can be used to achieve accurate forecasts for projects to save costs.
Disadvantages
It requires adequate planning
II. Gantt charts
Gantt chart is a horizontal bar chart that is in scheduling of projects. Each activity is represented as a block over time and the performance recorded as time and then related to the planned deadlines.
Advantages
They are useful in planning time scale for projects and estimating the required resources
They are useful in planning, coordinating and tracking particular tasks in a project
They are efficient especially when the number of activities involved in a project is small.
Disadvantages
They do not show the interdependencies between project activities
They are inefficient especially when the project is complex and lengthy.
III. Critical path analysis
It is a visual tool that is used to effectively manage time while clearly displaying the relationship between the activities.
Advantages
It shows the interrelationship between different activities
It can be used to plan and allocate resources including planning of staff
It is an effective communication and planning tool in managing time.
Disadvantages
It assumes that time and money can trade off whereas most costs are not variable, they are fixed.
The critical path analysis diagram becomes more complex with increasing activities
There are always unforeseen uncertainties in estimating duration for activities, which will result in poor prediction.
Most efficient technique for an IT project
Work breakdown structure
(Work breakdown structure, Innovative ProjectGuide, n. d.)
The efficient technique
Estimating a source code based project- Critical path analysis because it shows the interdependencies of the activities involved.
Systems development project- Work breakdown structure because it effectively manages complex and lengthy projects.
High risk software project- Work breakdown structure because it effectively manages the risks involved in a project.
References
Innovative ProjectGuide. (n. d.). Advantages of WBS and WBS Examples. Retrieved April 28, 2014, from http://www. innovativeprojectguide. com/project-management-tools/1-project-management-tools/145-advantages-of-wbs-and-wbs-examples. html
Kirkland, C. E. (2011). Mastering software project management: Best practices, tools and techniques. Project Management Journal, 42(6), 92-92. Retrieved April 27, 2014, from http://dx. doi. org/10. 1002/pmj. 20276