This process estimates they type as well as the quantity of material, human resources, equipment, and supplies required to perform each activity (PMI, 2013). This process sheds light on the different characteristics of these resources which enables project managers to get estimate costs and durations more accurately.
What I have learned from estimating through this course work is that it takes patients and experience. Resources can change throughout the project life cycle. Depending on what phase the project is in, project teams can utilize different estimating technique's that fit and will meet their needs with appropriate accuracy.
Estimate Activity Resources: Inputs, Tools and Techniques, and Outputs. Reprinted from "A Guide to the Project Management Body of Knowledge (PMBOK Guide), 5th ed" by Project Management Institute, 2013, p. 161. Copyright 2013 by PMI.Inc. Reprinted without permission.
1. Resource requirements (Input): homework assignment from PMGT 613: calculating the % of completing ahead of schedule with resources at hand. Deliverable 6.5.
2. Bottom-up estimating (tools and techniques) taken from PMGT 613 blog on different types of estimating, specifically bottom-up estimating.
3. Activity Resource requirements (output): A list of resource requirements taken from PMGT 501 wedding project.