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The Art of Precise Planning for Project Success
An important component of every successful project implementation is efficient effort estimation. Through targeted and precise planning, resources can not only be optimally utilized, but costs can also be specifically controlled and risks identified early. With our tools and features, estimates and their adjustments are implemented realistically and efficiently throughout the project.
Introduction
A well-founded effort estimation forms the foundation of solid project planning. Especially in complex projects, an accurate estimate helps to set priorities early, allocate resources, and create a stable Business Case. We support project managers with a variety of functions to create estimates both at a higher level and in detail and to respond flexibly to new developments.
Methods of Effort Estimation and Their Application in workspace.pm
Top-down Approach
The top-down approach is based on a general estimate, often provided by the client. With our PPM software workspace, project managers can record these estimates at a high level in the project brief and make key figures such as budget, benefits, and profitability visible via Corporate KPIs. Portfolio labels help categorize projects economically — for example, as “high benefit” or “low priority.” Based on this information, the portfolio dashboard supports early evaluation and prioritization of projects based on the effort-to-benefit ratio.
Bottom-up Approach
For a detailed and precise estimate, the bottom-up approach is suitable, which can be comprehensively implemented in workspace. With the container feature, detailed work packages can be created that map specific tasks, resources, and dependencies. Within the containers, tasks can be structured using Kanban cards and divided into smaller steps. These tasks can be assigned individual due dates, checklists, and responsibilities, enabling precise effort estimation.
We also support the management of dependencies between containers (ordering relationships), which is particularly useful for exact planning and helps minimize potential delays in resource utilization.
Estimation Workshop and Delphi Method
The estimation workshop and the Delphi method are proven methods for large, complex projects where expert opinions are important. workspace enables the integration of experts through the meeting module, allowing project managers to hold targeted estimation meetings with teams and experts. Thanks to the comment function, opinions and estimates can be documented and tracked directly in the Kanban cards. This allows a Delphi-like process to be mapped in workspace.pm: The first estimation round is recorded, deviations are discussed, and adjusted if necessary.
The estimates obtained in this way can be classified using labels on the Kanban cards, enabling structured analysis and documentation for future estimation rounds.
Knowledge Management and Updating of Effort Estimates
Utilizing Experiences from Past Projects
A crucial element of effort estimation is the integration of knowledge from past projects. workspace.pm offers the ability to create templates for project plans, container structures, and Kanban cards that capture proven best practices and can serve as a reference. This is particularly helpful for projects with recurring elements, as valuable experiences can be specifically utilized. Corporate KPIs and labels allow for subsequent analysis of project data to identify patterns that can be helpful for future estimates.
Continuous Adjustment of Estimates
Our project management software allows the planned effort and costs to be updated not just once, but continuously. The container and Kanban views always offer current comparison options between planned and actual efforts and costs, so deviations can be identified and considered early. Regular progress reports and continuous adjustment of estimates help to efficiently identify and correct deviations. With the reporting module, project-wide or container-based reports can be regularly created and adjusted for management and stakeholders.
Resource Management and Detailed Estimates
Another central feature of workspace is the detailed resource management tool, which shows the availability and workloads of team members. This is an important aspect in planning and updating effort estimates. Project managers can, for example, use specific skills and interests as filters to identify the right resources for the planned tasks and make the estimates realistic.
Conclusion
With workspace, we provide project managers with a powerful toolset to make effort estimates precise and flexible. The platform supports a variety of estimation methods and allows for continuous refinement and adaptation to actual project progress. In this way, project success can be secured through well-founded, dynamic planning, and the risk of budget and time overruns can be significantly reduced.
