Effective project estimation and control involves using a variety of techniques and best practices, including:

 Effective project estimation and control involves using a variety of techniques and best practices, including:

Defining the project scope

A clear project scope is the foundation for accurate estimates. 

Involving stakeholders

Stakeholders can provide insights into project goals, user needs, and potential roadblocks. 

Using multiple techniques

Combining techniques can provide a more comprehensive view of potential project parameters. 

Documenting assumptions

Documenting all assumptions made during the estimation process can serve as reference points as the project progresses. 

Being flexible and checking in frequently

Estimates should be updated regularly based on actual progress and emerging challenges. 

Using bottom-up estimating

This method involves estimating individual tasks or components of the project first and then adding them up to get the total project cost. 

Using analogous estimating

This technique involves comparing your current undertaking with one similar in scope that has already been completed. 

Using parametric estimating

This method uses historical data from past projects to estimate any part of a project. 

Using three-point estimation

This approach involves defining three estimates for a project or task: an optimistic, likely, and pessimistic number.