The approach relies on detailed data from previous projects or activities. Some people consider it to be one of the most accurate methods to determine cost and durations of a project. Cons : not so accurate in comparison with other techniques.ДЄccuracy : the lowest. Pros : calculation is fast not much documentation is needed. Thus, if you need to develop 10 landings, you multiply 1 week by 2 and get 2 weeks. Consequently, you take this amount of time as an example. Your team already dealt with similar tasks with five landings and it took 1 week. There is a task - to develop five new marketing landings. To make estimates, a similar project or projects are taken from the past. The project estimate is used in cases when there is not much documentation or information. Some people also call it top-down estimate. To possess them is also necessary as to have a good command of top 10 project management skills. But I will pay your attention to 4 significant ones. Of course, if we go deeper into, say, Agile, we will discover plenty of other techniques. The described techniques to estimate can be applied in any methodology be it something traditional like Waterfall or modern like Agile. Project estimation techniques are critical for predicting its accomplishment date and money it requires. It should be clear from a project scope what a project should achieve. If everything is defined from the very beginning, it is much better for farther project development and accomplishment. To start with estimates, I would mention a very important point.

Using this estimate as a baseline, project managers are able to determine key points such as efforts, budget, resources, time and some others to successfully complete a project. To put it generally, estimation is some kind of a process with the purpose to find a certain value - an estimate. Any project manager should know: the better you are prepared with project estimates, the more likely you finish a project and save budget.

Only its fulfilment shows the exact amount of time. Moreover, even the best project estimation techniques can fail and the only technique that really works is project accomplishment itself.

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