Effective project estimates and resource planning are indelibly linked. After all, if the estimates are wrong, it’ll skew your resource plans. And if resource planning isn’t done, it’ll skew your estimates because people may be overloaded, causing everything to take longer.
In this PM Times article on improving project estimates, author Rich Butkevic points out common estimating fallacies, such as assuming nothing will go wrong, attempting to estimate tasks in a vacuum, and underestimating due to faulty assumptions based on prior projects.
Butkevic also highlights a number of factors when making estimates, including project dependencies; past performance of similar projects (with proper cautions about assumptions of course); necessary buffers and contingencies; third party availability; consulting the team on resource availability; and more. Of course resource planning can also help from the availability perspective.
Bottom line: Next time you’re thinking about resource planning processes, don’t forget that sound estimating practices are a key success factor. And beware of Dilbert’s boss.