Chapter 21. Basic Estimation Concepts
Business decisions depend on estimates, and bad estimates can of course lead to bad decisions. To help you create good estimates, this chapter introduces the basic concepts of estimation. The chapter starts by explaining what an estimate is and why estimates are made in the first place. The chapter then explains estimate uncertainty. It also describes how and why uncertainty changes over time. The chapter closes with a description of different ways to specify estimate uncertainty and how to deal with uncertainty when the schedule is fixed.
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