Estimating projects is a pain. It also happens to be one of the most important things everyone wants to know. How much? How long? It’s a dark art that’s difficult to master, especially for anything remotely technical, and it’s easy to get an estimate wildly wrong. In fact, I’d estimate that 50% of all estimations are just utter nonsense.
A little research and my pun above doesn’t actually seem so far fetched. Via LinkedIn, an article in the Economist from a few years ago revealed that only 29% of IT projects ‘succeeded’. On average, costs over-ran by 56% of original budgets and projects took 84% more time than originally scheduled. Eye-opening statistics that, in a weird schadenfreuden way, make me feel a little better about myself. Cue vigorous nodding from everyone on the planet who’s ever worked in a service industry before.