LORESOFT

A project contains all the details that make up an estimate. An estimate is broken down into Assumptions, Factors and Tasks. The estimate is padded with a contingency rate... When making an estimate, there are assumptions the estimator makes to come up with the estimate. Document those assumptions to help raise the red flag in the future when an assumptions proves not to be true... Factors are a type of task with hours associated with the complexity of that task. Factors allow the estimator to state hours based on a specific type of task, regardless of the project.