Practice Standard for Project Estimating by Project Management Institute

Practice Standard for Project Estimating by Project Management Institute

Accurate project estimation is vital for successful project management. This practice standard provides models for project management professionals in plan-driven and agile life cycles.

Developed within the framework of the PMBOK® Guide, this standard focuses on providing models for project management professionals in both plan-driven and change-driven adaptive (agile) life cycles. It describes aspects of project estimating recognized as good practice, widely recognized, and consistently applied.

• Improve estimation accuracy
• Manage project costs effectively
• Adapt to changing project requirements
• Mitigate project risks

This standard is targeted to all practitioners within projectized organizations, not just project managers.

The PMI offers a variety of services, including standards creation, research, education, publication, networking opportunities through local chapters, hosting conferences and training seminars, and project management accreditation.