How do we come up with good time estimates for all the different tasks in our project schedule?
Good estimating comes from experience, but you don't have to wait for your own experience to grow. Rely on those with greater experience—your team members or others in functional groups—to help with estimating task work effort and duration. You can also get input from
other project managers who have worked on similar efforts. Another approach is to ask for best, worst, and most likely estimates for various tasks. (Document assumptions so everyone understands where those estimates came from!) You then produce a range of overall estimates for the entire project and discuss where to peg the schedule. See our guideline Estimating Process and Methods for more detail on different approaches, which include:
Industry rules of thumb
Top down vs. bottom up estimating and comparisons
Historical data from your company
Techniques for "sizing" various tasks and deliverables
Estimation should be done very visibly, with the active involvement of the people who will actually be executing the work. The person responsible for delivering an activity must commit to the work and cost estimates. These people know at the working level what it takes to get the job done, what their work environment is like, what tools and other supporting resources are needed, and how that will all affect the work time and costs to get the job done. Estimating work for each item in the project's work breakdown structure helps ensure the schedule develops methodically based on the hours or work truly required, rather than through top-down guesses about activity durations.