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$95.00 USD for 5 PDUs.
Satisfaction GuaranteedIf you are not completely satisfied with your learning experience after completing the lesson orientation, your registration fee will be refunded promptly.
For details, call us at 484-875-3059.
D. Hughes & Co. is a global registered education provider with the Project Management Institute.
This lesson is pre-registered with PMI. Claim 5 PDUs in category 3.
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Student Feedback
Better than any other training approach available today!
M. C.
Incredibly challenging learning experience.
D. K.
I thought I knew about estimating, but this estimating lesson taught me so much. Thanks!
J. D'L.
First-class online training from beginning to end.
W.M.
Easy to use. I got more out of your blended learning for half the cost of other courses I have taken.
N. R-K.
Well-constructed course. I will recommend this course to anyone who intends or is working in the field of estimating.
D. F.
More testimonials.
Deterministic Estimate Modeling: a Hands-on Approach to Developing Practical Project Estimating Skills
An online training course in how to estimate duration, work effort, resources, and project cost.
You will learn project estimating best practice and how to apply it to project planning and management. Modeling techniques and exercises for single-value (deterministic) estimating are supported for Microsoft Office Project (MS Project) or Microsoft Office Excel (MS Excel). Choose the lesson version which is best for you. Learn project estimating techniques which are compliant with the ANSI standard Project Management Body of Knowledge (PMBOK) Guide. Earn PMI PDUs online.
Lesson SpecificationsLesson identifier: DEM
Lesson versions:
Microsoft Project
Microsoft Excel
Lesson duration: 5.0 hours / 5.0 PDUs.
Delivery schedule: 30-day learning management system access period.
Required Software: A Web browser is required for multimedia learning. To complete the hands-on assignments, you will need either Microsoft Office Project (2007 preferred; 2000 or later acceptable) or Microsoft Office Excel (2003 or later), depending on the lesson version selected. To access the key training objectives, the case study files, and the self-directed work files, you will need Adobe Reader.
Special Note: All learning materials are fully annotated for the hearing impaired, and device-reader enabled for the visually impaired.
Lesson DescriptionLearn estimating with Microsoft Project. Learn estimating with Microsoft Excel. Choose the lesson version which is best for you.
In this lesson, you will learn project estimating best practice and how to apply it. D. Hughes & Co. teaches you to develop the mindset of a project estimator. To succeed as a project estimator, you must learn to use the fundamental formula, to understand the concept of efficiency, to select the right task type, and to anticipate the effect of effort-driven scheduling.
A realistic case study is integrated with the lesson, and solutions are worked out in detail for further study.
Lesson Objective: You will learn deterministic (single-value) estimating best practice using techniques which are compliant with the ANSI standard Project Management Body of Knowledge (PMBOK Guide). Starting with the basic techniques of integrating work period duration, work effort, and utilization, you will progress step-by-step to the advanced techniques of statistical modeling. The proper management of assumptions and constraints is emphasized throughout the lesson. The final deliverable is a simulated presentation of a preliminary project budget. Schedule risk and the degree of uncertainty for the project estimate also are determined.
Target Student: This course is designed for experienced estimators who wish to enhance their skills and for new estimators who wish to develop effective estimating habits from the start. Project managers, project coordinators, job planners, business analysts, functional managers, resource managers, event coordinators, and procurement specialists all will benefit from this lesson.
Prerequisites: To ensure your success, we recommend that:
you have six months or more of project management experience;
you can perform mathematical calculations involving fractions;
you are familiar with the basic statistical concept of the mean (average) of a set of numbers;
your experience level with your modeling tool of choice (either Microsoft Project or Excel) is at least one step above "novice."
Delivery Method: Virtual e-learning using a blended learning model with:
interactive multimedia content online;
structured self-directed work offline;
an instructor-led virtual session;
a timed final test online.
Upon successful completion of this lesson, students will be able to:
use organizational process assets and knowledge bases to obtain estimating data;
collect requirements and validate scope as the basis for estimating;
use a work breakdown structure (WBS) to control estimating scope;
estimate activity resources and expected work effort
using a project resource pool;
estimate resource utilization for a project activity (task);
estimate activity duration;
build the foundation for developing a reliable project schedule estimate;
estimate project costs;
develop a human resource plan;
manage project stakeholder expectations;
quantify project estimate uncertaintly;
apply inferential statistics to static and dynamic estimating models.
Section 1: Technique
Topic 1A: Deterministic Estimating Defined
Topic 1B: Duration
Topic 1C: Work Period Definition
Topic 1D: Work Effort
Topic 1E: Utilization
Topic 1F: Utilization Demand
Topic 1G: Demand versus Capacity
Topci 1H: Three Estimating Perspectives
Section 2: Understanding the Technique
Topic 2A: Exercises - Transforming the Fundamental Formula
Topic 2B: Exercises - Understanding Estimating Perspective
Topic 2C: Key Points Review
Section 3: Applying the Technique
Topic 3A: Estimating Perspective Review
Topic 3B: Model Definition
Topic 3C: Deterministic Estimate
Topic 3D: Model Rules
Topic 3E: Task-level Guess-timating
Topic 3F: Quality of an Estimate
Topic 3G: Empirical Data
Topic 3H: Statistics
Topic 3I: Deterministic Estimate, Duration Perspective
Topic 3J: Deterministic Estimate, Work Effort Perspective
Topic 3K: Deterministic Estimate, Task Level
Topic 3L: Utilization Perspective
Topic 3N: Self-directed Work for Static Modeling
Section 4: Performance (Microsoft Project Version)
Topic 4A: Multi-resource Assignment
Topic 4B: Proportional Allocation
Topic 4C: The Algebra Which Drives the Model
Topic 4D: Algebra {FixedDuration, NotEffortDriven } Initial
Topic 4E: Perspective Equivalence
Topic 4F: Changing Assignments
Topic 4G: Dynamic Modeling
Topic 4H: Algebra ( FixedWork, EffortDriven } Changed - Delete
Topic 4I: Algebra { FixedWork, EffortDriven } Changed - Add
Topic 4J: Dynamic Modeling {FixedDuration, EffortDriven }
Topic 4K: Algebra { FixedDuration, EffortDriven } Changed - Delete
Topic 4L: Self-directed Work for Multi-resource Task Assignment
Section 4: Performance (Microsoft Excel Version)
Topic 4A: Model Verification
Topic 4B: Averaging is Bad Modeling
Topic 4C: Curves are Visual Models
Topic 4D: Model Minimax
Topic 4E: The Beta Curve
Topic 4F: Confidence
Topic 4G: Self-directed Work for Deterministic Estimate Modeling
Section 5: Analysis
Topic 5A: Instructor-led Virtual Session
Topic 5B: Case Study Solution
Section 6: Test