IT Best Practices

The Value of Making an Estimate

Wasted time equals wasted money, which equals a greater chance of project failure. This is the argument behind the no estimates concept that many IT bloggers are fiercely advocating. Why waste your time estimating when you could be working on the project? Glen B. Alleman believes differently. He says the value of the estimate lies with your stakeholders.

If you want the product to be valuable with your stakeholder, you first need to estimate how much it’s going to cost. What’s your ROI? How much is your work worth? You won’t know unless you estimate first. It might seem easier to just forge ahead, but ultimately, it’s the stakeholder’s money that’s being spent and they deserve to know where it’s going. 

Sometimes projects are short, lasting only days or weeks. If this is the case with your current project, Alleman allows that forgetting estimation might be okay. Providing a certain product within a certain amount of time is the most important part of the project. Don’t oversell your stakeholders or worry about fancy strategies. Simplicity and estimation are key in providing value to your stakeholders.   

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