5-1 Discussion: Reducing Estimating Errors
On pages 138 and 139 of Project Management: The Managerial Process, there is information about reducing estimating errors. Review the information contained there. For this discussion, you will use the following six strategies below to minimize errors:
Identify all stakeholders
Involve the stakeholders when creating the estimates
Aggregate the estimate by comparing several models
Manage the project against the estimates
Track projects closely
Track actual costs and times at a granular level
Imagine you are the project manager of the project described in the Medical Informatics case study (provided for your final project). Choose one of the strategies described above, and discuss how you would employ this strategy as the project manager. How would using this strategy increase the chances of a successful outcome in this particular case?
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