Guide on Estimating Activity Durations

Estimating Activity Durations is a crucial step in Project Time Management within the context of the CAPM (Certified Associate in Project Management) framework. It involves defining the amount of time each task will take to complete, which helps in creating a realistic project schedule.

Importance: This concept is important as it helps prevent delays, budget overruns, and other project risks by developing a well-informed timeline. It aids in coordinating resources, managing stakeholder expectations by providing a clear view of the project's timeline, and contributes to the overall project success.

How it Works: Estimating Activity Durations are usually performed by using techniques such as analogous (past similar activities), parametric (using statistical relationships), and three-point estimates (optimistic, pessimistic, and most likely) based on the Work Breakdown Structure (WBS).

Exam Tips: When answering questions related to this in an exam, remember to:
- Understand the difference between the various estimating techniques.
- Read the question carefully to determine which technique is most applicable.
- Use the given data to solve quantitative problems, like determining which activity duration has the most significant effect on the entire project.
- Explain the importance and benefit of accurate estimation in descriptive type questions.
- Remember the impact of the estimation phase on other project management processes.