Creating Estimations in Software projects [Agile]: 2

After an initial estimation on the scope, PMBOK advices on estimating the duration of the scope in plan. Once the WBS and WBS dictionary is in place, it is then inputted into the time management process. The Estimation sprint involves Scope, Time, Cost and resources estimation. There are six key sub-processes for time management:

1. Activity definition
   After finding the WBS and WBS dictionary for the work, the next step is to identify the activity. If you are familiar with UML, then creating WBS is same as creating the use case diagrams and the actors involved; creating WBS Dictionary same as UCD [use case description] or user stories[XP]; and activity definition same as an activity diagram for the work package defined in WBS. Also take note that these are only estimations. For execution the use cases and activity diagrams have to be refined further.
2. Activity sequencing
   Activity sequencing is covered in the activity diagram. Using Agile user stories, it can be done by first listing the tasks needed to complete the work package and then by arranging them in a sequence.
3. Activity duration
   Figure out the team needed to complete the project [or the number of team members, as most of the members will be doing all the jobs]. Write down the rough duration estimates on the diagram or on the user stories. Add all the durations in a sequence for the use case or the user story to get an estimate.
4. Schedule development
   Prioritize the use cases or the user stories. Prioritization can be done on the basis of actors, need or it can be reached through a discussion with project owner. Figure out the average time span for a single iteration and find out how many user stories or use cases can be completed in a single iteration. Finally, figure out the number of iterations needed to complete the project and you have achieved a rough estimate about the time needed to complete the project.
5. Schedule control
   Not a part of estimation, but is used in further delivery iterations.

Once the number of iterations are found, figure out the average cost of an iteration by multiplying the average man-hour cost of the team by the total man-hours in an iteration. Multiply the average iteration cost by the total iterations to figure out a development estimate. Add to it other procurement and resources costs, and you get the estimation of the project cost.

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