Several months ago, I presented SLIM-Estimate’s use of uncertainty ranges for size and productivity to quantify project risk. Estimating these two parameters using low, most likely, and high values predicts the most probable effort and time required to complete the project. This post shows you how to use SLIM-Estimate’s probability curves to select the estimate solution and associated work plan that includes contingency amounts appropriate to your risk.
Begin with an unconstrained solution
The default solution method used for new estimates, whether you are using the Detailed Method or another solution option, is what we call an unconstrained solution. Just as it sounds, no limits have been placed on the effort, schedule, or staffing SLIM-Estimate can predict. It will calculate the resources required to build your product (size) with the capabilities of your team (PI). Assuming you have configured SLIM-Estimate to model your life cycle and based your inputs on historical data, you have produced a reasonable, defensible estimate.