The Role of Estimating in Project Lifecycle Management

Estimating is integral to project lifecycle management. This article explores how estimating is intertwined with various project phases.

Estimating in Project Phases:

• Initiation: Estimators assess project feasibility and produce initial cost estimates.
• Planning: Detailed estimates are refined during the planning phase, helping set project budgets.
• Execution: Estimators ensure that materials and resources are procured as per estimates.
• Monitoring and Controlling: Regular monitoring ensures that the project stays on budget.
• Closure: Estimating plays a role in final cost analysis and project closure documentation.

Effective estimating throughout project phases contributes to successful project management.