Answer / Explanation:
Four of the factors that affect accurate estimation and techniques i could use as a project manager to overcome them includes:
Problem 1, Level of financial capacity of the client:
Technique used to remedy the problem:
To solve this type of problem, in the initial state of the project management process, i would build or design a realistic fund utilization model for the proposed project and client. this will help forecast and properly connect the client to the reality of the cost.
Problem 2, The complexity attached to the nature of the project:
Technique used to remedy the problem:
To solve this type of problem, in the start of the project, i will assign competent manager equal to the task and nature of complexity profile of the particular project.
Problem 3, Labor cost:
Technique used to remedy the problem:
The technique to dealing with this problem can be likened to that of level of financial capacity of the client. In this case also, it is advisable to build or design a realistic fund utilization model for the proposed project and client. That way, we know the estimated cost for labour before the project kick off.
Problem 4, Time allowed for estimation:
Technique used to remedy the problem:
Due to the time for kick off of some project, the time estimation may be short, thus will not give enough time for proper estimation so it is an advisable technique to include a contingency time or hour to the initially proposed estimated time.
