Estimation accuracy plays a crucial role in the profitability of a project. Precise estimates determine the overall profitability of the project and help to achieve Return on Investment (ROI). To produce accurate project estimates, it's important to rely on your data and the quality of that data.
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Planning and organization – especially when dealing with remote freelancers and outsourced providers, planning and keeping track of tasks can be complicated. "Organizational tools, such as those for effective resource management or capacity planning, help to ensure teams stay on target and stay organized without requiring the constant supervision of a project manager or for someone to have to remember each action item which is delegated to a colleague," the experts say. Estimation accuracy – precise estimates determine the overall profitability of the project and help to achieve ROI. To produce accurate project estimates, rely on your data and the data quality. The constant need to follow-up – keeping up with each member of the team, particularly those working offsite and third-party service providers is tricky. The experts say: "Project managers must ensure that the follow-up process becomes easy to deal with. The use of online project management software can be an asset for this,...
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