With experiece comes knowledge. It is difficult to know how long something will take if you've never done it before. The following article gives some pointers as to how to estiamte the cost or time frame of a project. There are three main parts of a plan; effort, duration, and cost. The article focuses on internal and external labor costs and duration, and non-labor costs.
http://www.techrepublic.com/article/estimate-project-costs-after-you-have-estimated-effort-and-duration/6080089
The following website has internal links explaining activity duration, activity resource estimating process, parametric estimating, cost estimating and analogous estimating:
http://project-management-knowledge.com/definitions/a/activity-duration-estimating/
Lindsay,
ReplyDeleteIronically, I ran across both of your resources this week while searching for my own. I found both of the resources to be quite useful as they continue to build on information that the course text mentions. One particular resource within the first link that I found useful was to the Project Management Body of Knowledge (PMBOK). It was mentioned throughout a number of the resources that I encountered and is very extensive!