Estimating and critical path analysis (part 1)
Inaccurate time estimates can inflate cost estimates, risking your ability to provide accurate completion dates and costs for the success of the project. In this week’s Collaboration, you will discuss the various examples of estimation techniques, and the costs and risks associated with them. You will engage in a discussion with your colleagues to analyse the factors that influence estimation accuracy.

References (all files attached):
• #1 Doloi, H.K. (2011) ‘Understanding stakeholders’ perspective of cost estimation in project management’, International Journal of Project Management, 29 (5), pp. 622-636.
• #2 Project-Management-Skills.com (2014) ‘Project cost estimating tools and techniques’. [Online] Available from: http://www.project-management-skills.com/project-cost-estimating.html (Accessed: 23 December 2014).

TASK – assignment
Until Friday using examples of estimating failures and successes, submit a post that analyses the factors and assumptions that can influence the accuracy of estimates. Be sure to consider the issues discussed in the Doloi (2011) article and the tools and techniques presented on the Web site link provided.
Next week, you will continue this activity by examining critical path analysis factors that influence project planning (part 2).
By Friday, in an approximately 500-word response, use at least 5 peer-viewed references, use at least 4 from the given ones, Harvard Style. Submit your initial response to the Turnitin link provided.