Accurate project estimation is vital for successful project management. This practice standard provides models for project management professionals in plan-driven and agile life cycles.

Developed within the framework of the PMBOK(R) Guide, this standard focuses on providing models for project management professionals in both plan-driven and change-driven adaptive (agile) life cycles. It describes aspects of project estimating recognized as good practice, widely recognized, and consistently applied.

• Improve estimation accuracy
• Manage project costs effectively
• Adapt to changing project requirements
• Mitigate project risks

This standard is targeted to all practitioners within projectized organizations, not just project managers.