Why is Cost Estimation So Important (& How Can I Get Better at It?)

Accurate cost estimation is a defining feature of successful progress for project managers. Staying on budget is crucial for clients and stakeholders alike. The best way to ensure this is by keeping the project's budget in mind and charting out each cost meticulously. Four trusted estimation methods are analogous, parametric, three-point, and bottom-up estimation. Tracking progress is also key, using methods such as charting employee hours and thinking of time as money. The use of enterprise project management software can be helpful in streamlining the process.