Estimating Timelines & Surfacing Risks
Have you ever been involved in a project with an extremely tight deadline, only to realize you need to learn new skills to succeed in the long run?
Why Estimate Time Accurately?
Accurate time estimation is a critical skill in project management. Without it, you cannot determine how long your project will take, nor can you secure the necessary commitments from stakeholders. For example, as a Technical Team Leader and Project Owner during a deferral program, accurate timelines are essential.
Calculating Realistic Project Timelines
People often underestimate the time required to complete tasks, especially when they are unfamiliar with the tasks at hand. Based on my experience, it’s crucial to ensure that familiar tasks are completed efficiently while learning about new tasks. Typically, around 90% of the timeline covers known tasks, and with proper management, the remaining 10% for unfamiliar tasks can also be completed on time.
Though this approach may seem tedious or risky, it allows for significant exposure and improvement. As you learn while working, you gain the skills necessary for the unfamiliar tasks, and you can experiment with different procedures when the time comes.
This is why accurate time estimation is key to the success of any project or task.
Key Points:
- Understanding Requirements: It’s essential to thoroughly understand what is required for your project or task. Without a clear understanding, it becomes challenging to progress effectively.
- Prioritizing Activities and Tasks: Prioritize based on the time each task will take and your personal expertise to maximize efficiency.
- Deciding on Involvement: Identify who you need to involve for support, whether it’s team members as has been my experience in this deferral program or external professionals for specific tasks.
- Making Personal Estimates: Base your estimates on your strengths and weaknesses with the tasks or projects at hand.
By following these key points, you can better manage your projects, meet deadlines, and minimize risks associated with poor time estimation.
