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The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

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Home » Glossary » What is Task Estimation?
What is Task Estimation?  

What is Task Estimation?



 
 

Task Estimation is an approximation, prediction, or projection of certain aspects or parameters of a task to identify and examine current state of the task. It is a type of task modeling that helps develop a simplified version of the task, with the assumption that pertinent task parameters are unclear or unknown.

Task estimation can be regarded as an attempt to give an estimate to some tasks. Through estimating it is possible to create a math representation of tasks based on such parameters as duration, effort, size, value, cost, others. For example, PERT technique can be used to estimate tasks in a project. This technique offers a probability-based calculation of tasks to develop an estimate of optimistic time, realistic time, and pessimistic time. These three parameters are used to determine task effort and cost.

Estimating a task means a process of focusing on and examining key parameters of the task to form a judgment or calculation that is used in decision making. Such a process is carried out in these basic steps:

  • Identify and select tasks for estimating
  • Collect and analyze task data
  • Choose an estimation method or technique (e.g. PERT)
  • Identify and select estimation parameters
  • Estimate tasks
  • Develop a model (task estimate) that describes tasks by selected parameters
  • Use the model in decision making.

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