Time and Cost Estimation
Time and Cost Estimation is a critical project management competency that entails forecasting the timeframes and financial resources necessary for a project's successful execution. This includes planning, controlling, and adjusting the project's budget and schedule based on changes and updates in project scope.
Level 1: Emerging
At an emerging level, you are beginning to understand time and cost estimation techniques. You can identify key factors affecting project timelines and budget but need guidance to forecast accurately.
Level 2: Proficient
At a proficient level, you are able to accurately estimate project timelines and costs by utilizing relevant data, historical information, and expert judgment to ensure successful project delivery within budget constraints.
Level 3: Advanced
At an advanced level, you are able to develop accurate and detailed time and cost estimates for projects, utilizing advanced techniques and tools in project management to ensure successful delivery within constraints.
