The Myth of the Perfect Project Estimate

Is it better for a project estimate to be precise or accurate? It’s my experience, over hundreds of AV integration projects and hundreds more in numerous industries, that most people believe a precise estimate is more accurate — and that most of the time, “precise” and “accurate” are considered synonymous. So let’s look at the science of estimation and dispel some myths and confusion about what makes a ‘perfect project estimate.’ First, let’s define some terms: Precision typically means a degree of reproducibility or exactness; … Continue reading The Myth of the Perfect Project Estimate