Improving Project Estimation Accuracy

This document discusses various techniques for improving the accuracy of project estimates, including: analoguous estimating using historical data from similar projects; parametric estimating using statistical models based on known rates; bottom-up estimating that breaks down each component; three-point estimating using best, worst, and most likely cases; vendor bid analysis of external supplier estimates; and accounting for uncertainty through contingency budgets. It recommends combining multiple techniques and using three-point estimating for each to provide the most accurate project estimates.