--- title: "Why Projects Fail: Unreliable Estimates" description: Cost estimation, typically filled with uncertainty, can be one of the most tedious parts for getting a project off the ground. image: https://blog.kintone.com/hubfs/unreliable_estimates.jpg --- [![Kintone](https://blog.kintone.com/hubfs/KintoneGlobal/svg/logo_kinton_black.svg)](https://www.kintone.com/en-us/) [![Kintone](https://blog.kintone.com/hubfs/KintoneGlobal/svg/logo_kinton_black.svg)](https://www.kintone.com/en-us/) ![](https://blog.kintone.com/hubfs/KintoneGlobal/svg/icon_search_black.svg) - Product Product![](https://blog.kintone.com/hubfs/KintoneGlobal/svg/icon_plus.svg)![](https://blog.kintone.com/hubfs/KintoneGlobal/svg/icon_back.svg) - Product ![](https://blog.kintone.com/hubfs/KintoneGlobal/svg/icon_plus.svg) ![](https://blog.kintone.com/hubfs/KintoneGlobal/svg/icon_back.svg) - [Intro to Kintone](https://www.kintone.com/en-us/intro/) - [Why Kintone](https://www.kintone.com/en-us/why-kintone/) - Features ![](https://blog.kintone.com/hubfs/KintoneGlobal/svg/icon_plus.svg) ![](https://blog.kintone.com/hubfs/KintoneGlobal/svg/icon_back.svg) - 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[![](https://blog.kintone.com/hubfs/2018%20S2/assets/kin-heart-white.png) ![](https://blog.kintone.com/hubfs/2018%20S2/assets/kin-heart-grey.png) ![](https://blog.kintone.com/hubfs/2018%20S2/assets/kin-heart-red.png) Company + Product](https://blog.kintone.com/company-news) - Business with Heart \<3Operations for the Digital First Team - [Company + ProductLatest News from Kintone](https://blog.kintone.com/company-news) - [Business with Heart \<3Operations for the Digital First Team](https://blog.kintone.com/business-with-heart) ![Why Projects Fail: Unreliable Estimates](https://blog.kintone.com/hubfs/unreliable_estimates.jpg) [Workplace Productivity,](https://blog.kintone.com/business-with-heart/tag/workplace-productivity) [Tips and Tricks,](https://blog.kintone.com/business-with-heart/tag/tips-and-tricks) # Why Projects Fail: Unreliable Estimates Oct 28, 2020   |   by [Euna Kim](https://blog.kintone.com/business-with-heart/author/euna-kim) [Tweet](https://twitter.com/share) Cost estimation, typically filled with uncertainty, can be one of the most tedious steps to get a project off the ground. But it's a job you don't want to skimp on. Unreliable estimates, whether for cost, scope or time, are among the largest reasons why projects don’t deliver their objectives.   We've all heard of projects that end up going way over their original estimates. It's a huge source of frustration for stakeholders and project managers alike. It can harm your company's credibility or even create a sense of distrust among management and project leaders. The first step for successful cost estimating is finding the right person to take on the responsibility. Like with anything, experience matters. Less experienced planners tend to be overly optimistic and assume that everything will go right. More experienced managers, on the other hand, lean toward thinking everything will go wrong and build in a buffer. Regardless, project managers typically follow a few tried and true methods to try and create the most reliable estimates.  Here are three common methods used: ## 1. Parametric Estimation This is one of simplest methods that estimates projects on a quantitative basis, such as dollars per square feet or number of installations per day. But not everything can be quantified, which leaves some gaping holes in your estimation. ## **2. Analogous Estimation** This method is based on historical information of past projects. It's generally used early on when much is not known about a project. Analogous estimations will use time or cost in similar projects to create a new estimation. It's a quick and relatively easy method of estimating, although not the most accurate. ## **3. Bottom-up Estimation** This is the most accurate, but also the most time-consuming form of estimating since it requires breaking down each project task into smaller components, such as individual deliverables. The estimates for the smaller chunks are combined to create a larger estimate for the entire project as a whole. In this type of estimation process, the first step is to create a [work package that outlines the scope](https://www.pmi.org/learning/library/top-down-bottom-up-pm-8496) and major deliverables that each team member will produce as well as costs, duration and potential risks. **MORE:**  [Learn how to automate the tedious parts of your project management with Kintone](https://blog.kintone.com/company-news/ways-to-automate-tedious-stuff-with-kintone) When calculating cost and time estimates for each deliverable, a [three-point estimation formula](https://opengeekslab.medium.com/how-to-calculate-3-point-estimate-of-a-project-19dafd838cf0) where each team member provides their pessimistic, optimistic and best-guess estimates will help achieve the most accurate results. ## **Final Thoughts...** The smaller you can break down the scope of your program, the more accurate of an estimate you're going to churn out. It's also important to not just stick with one method, but use a couple to make sure you come out with the most definitive estimation in the end. [Download our full Why Projects Fail eBook for free to learn more.](https://resources.kintone.com/whyprojectsfailebook) [![Kintone eBook: Why Projects Fail](https://no-cache.hubspot.com/cta/default/1857320/e9f419f9-50ac-4a56-99ec-79aa6a7e5dcd.png)](https://cta-redirect.hubspot.com/cta/redirect/1857320/e9f419f9-50ac-4a56-99ec-79aa6a7e5dcd) [![](https://blog.kintone.com/hubfs/EKheadshot_blog.png)](https://blog.kintone.com/business-with-heart/author/euna-kim) About the Author [Euna Kim](https://blog.kintone.com/business-with-heart/author/euna-kim) Euna is a Senior Content Specialist at Kintone. She holds a BA in English from the University of Michigan and has a thing for words, food, and travel. Recommended Posts Up Next [Can Drag-And-Drop Really Get You the Custom Software You Want?](https://blog.kintone.com/business-with-heart/can-drag-and-drop-really-get-you-the-custom-software-you-want) Previous [What Are Data Silos and How Do They Affect Your Business?](https://blog.kintone.com/business-with-heart/what-are-data-silos-and-how-do-they-affect-your-business) [Back to Business with Heart \<3 Blog Page](https://blog.kintone.com/business-with-heart) ### Subscribe to Blog #### Recommended Posts [![Illustration of a woman at her desk picturing a request moving between three colleagues, with one item flagged as incomplete and a loop that sends the request back before it reaches approval.](https://blog.kintone.com/hubfs/Blog%20Files/workflow-intake-process-hero.webp)](https://blog.kintone.com/business-with-heart/workflow-intake-process) Improving Teamwork ##### Why Do Cross-Departmental Processes Break Before They Start? A purchase request reaches finance without a cost center. A new-vendor setup request reaches procurement without the vendor's tax ID. A customer escalation reaches engineering without the steps to reproduce the problem. In each case, the receiving team stops, ... [Read More »](https://blog.kintone.com/business-with-heart/workflow-intake-process) [![A billing reviewer compares an incoming case containing a service note and provider order against three required documents. The supporting report has no matching file in the case.](https://blog.kintone.com/hubfs/HC-S4%20-%20Hero%20-%20Document%20Handoff%20and%20Missing%20Report.png)](https://blog.kintone.com/business-with-heart/healthcare-document-tracking-how-to-know-whats-missing-before-handoff) Workplace Productivity ##### Healthcare Document Tracking: How to Know What’s Missing Before Handoff A billing reviewer opens a case marked ready and has to send it back. 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IT, finance, and facilities each work in systems built for their own jobs. Every one of those tools does what it was chosen to do... [Read More »](https://blog.kintone.com/business-with-heart/how-smb-operations-teams-manage-work-across-spreadsheets-email-and-separate-tools) [![Illustration of five people gathered around a single shared work record, each focused on a different part of it: its fields, its status, its approval, its comments, and its link to another record.](https://blog.kintone.com/hubfs/Blog%20Files/what-kind-of-software-is-kintone-hero.webp)](https://blog.kintone.com/business-with-heart/what-kind-of-software-is-kintone) Workplace Productivity ##### What Kind of Software Is Kintone? Ask five people what Kintone is and you can get five answers. One calls it a database. Another calls it a workflow tool. Someone in finance calls it "the approvals app." Someone in operations calls it "where the spreadsheets went." A developer calls it a platf... 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