ABSTRACT
If the actual resource requirement for the project turns out to be 1000 person-months, it is absolutely acceptable for the project manager to provide the executive team with an initial estimate ranging from 750 to 1750 person-months. A study of IT and software companies conducted by Barry Boehm demonstrated that the funnel for software development projects was even wider. Among other things, it showed that even software development companies that excelled were in the +300% to -75% accuracy range when estimating early in the project life. The coordinator presents each estimator with a detailed project description available at the time of discussion and an estimation form. Access to reliable historical data is also an issue because very few companies actually capture key project information. The company managers indicated that they are not comfortable with a 50% chance of delivering the projects and requested an increase in the probability of completion.
