I saw the definition below recently and it started me thinking about de-mystifying estimation.
“ESTIMATOR, Noun. [es-ti-may-tor] Someone who does precision guess work based on unreliable data provided by those with questionable knowledge. See also – Wizard, Magician”
The author has obviously been caught up in the crazy whirlwind world of Estimation. The definition is obviously “tongue in cheek” but it does get to the essence of what estimation is. If everything was known at the time of tender, it would be called “Factimation”.
There are no guarantees that what is quoted in a tender will a) win you the work, or b) cover the amount of effort required to deliver the work. There are strategies and processes that will de-mystify estimation and assist in finding the right work to quote and lowering the risk of the quote not covering the delivery costs.
Our Estimation Principals and Management course seeks to de-mystify the art of estimation and provides useful insights and tools. The course follows the process from working out whether something is suitable for quoting through risk minimisation, review and presentation to the client.
Estimation Principles and Management has something for everyone, from new estimators, through to experienced estimators and estimation managers. The course is also valuable for project managers.
By Barry Anderson – Estimation Wizard!