What were the consequences of the inaccuracy

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Reference no: EM133400005

Case Study: Project managers, in some instances, make errors in the process of estimating various project's attributes such as cost and duration, leading to project estimation inaccuracies (Kerzner, 2017). Notably, estimation inaccuracies in project administration are detrimental to the success of a project, where failure to recognize the issues earlier enough would result in project failure.

Project Situation

In a project involving the implementation of an information technology system in my previous organization, I made an incorrect estimate of the duration of some activities.

The situation involved assigning task completion durations, with some tasks receiving fewer implementation days while others required more time to complete.

Questions: The tasks involved acquiring and delivering computer equipment and other parts from the contracted suppliers, including the Ethernet cables.

b) Describe how you made the estimate. Discuss your reasoning for estimating the duration of the activity the way you did.

I used expert judgment and historical information from similar IT projects to estimate the time required to complete each task in the project. Due to its ability to provide an overview of the anticipated project outcome, the use of historical data is one of the most common methods for project estimation.

In this instance, I projected the estimated duration of the project's various tasks using a similar project that was carried out by a different company. Additionally, in conjunction with the use of expert judgment. According to Darnall and Preston (2014), expert judgment is one of the most common methods for estimating projects. In this method, experts and experience managers use a variety of ideas and perspectives to estimate projects. Based on previous data and expert judgment, I estimated the duration of each activity and determined the most likely time to complete it to success. The estimation method, in my opinion, produced precise estimates for the duration of the project and the amount of time required to complete each project's activities.

c) In what way was it inaccurate? Discuss the factors that caused your estimate to be inaccurate.

Tasks related to the acquisition of various project resources were among those whose estimated activity durations were incorrect. Based on historical data and expert judgment, the durations given to various activities involving procurements were incorrect. Notably, the methods used did not take into account the possibility that suppliers might not deliver within the allotted time. The primary cause of the project's inaccurate estimation was the suppliers' lead delivery time.

d) What was the outcome of the situation?

e) What were the consequences of the inaccuracy?

The outcome of the situation entailed delayed delivery of the computer hardware, ethernet cables, and power cables essential for undertaking the project to completion. The delay resulted in the corresponding delay in the project completion because of increased duration. The consequence of the inaccuracy included an increase in project cost allocated to ensure that the project is completed on the initial duration and date. Notably, the project necessitated that I perform a project crashing to shorten the duration for various tasks implementation, which resulted in a corresponding project cost increment affecting the overall project execution.

Reference no: EM133400005

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