Padding: Is this really a "Professional Option" ?

Estimating Risk Management Scheduling Using PMI Standards Work Breakdown Structures (WBS)

Rami Kaibni

Community Champion

Senior Projects Manager | Field & Marten Associates New Westminster, British Columbia, Canada

As you all know, Padding is basically adding extra time or cost to an estimate because the estimator does not have enough information.

Have you ever considered padding in your project estimates and why ?

Posted: Jan 8, 2016 6:43 PM (Updated by author: Jan 8, 2016 8:11 PM)

Sort By:

< 1 ... 4 5 6 7 8 9 >

Rami Kaibni

Community Champion

Senior Projects Manager | Field & Marten Associates New Westminster, British Columbia, Canada

Jan 29, 2022 4:49 AM

Replying to Andrei Cachia

...

Dear Mr.Kaibni,
I read you comment with great interest as 'padding' is something I am researching in my studies at the moment. I find you last comment interesting: "uncertainties are turned into identifiable opportunities and threats (Risks) instead of using padding and just adding any values based on best guess". May I kindly ask you wouldn't risks which are turned into either opportunities/threats still result in costs? hence isn't a Client still forking out money at the end similar to if 'padding' occured?

Andrei

Opprotunities might result in savings and threats could result in extra costs but not necessarily if properly managed but this is all different than padding as we are talking about the concept.

Doing qualitative and quantitative risk analysis is something that should be done and in a way you are actually taking calculated risks which is different than just inflating your estimates arbitrarily to account for risk.

Hope this explains.

RK

Posted: Jan 31, 2022 10:06 AM (Updated by author: Jan 31, 2022 10:07 AM)

Abolfazl Yousefi Darestani Manager, Quality and Continuous Improvement| Hörmann-TNR Industrial Doors Newmarket, Ontario, Canada

To be honest, sometimes I had to.

Posted: Feb 1, 2022 8:32 AM

Stéphane Parent Self Employed / Semi-retired| Leader Maker Prince Edward Island, Canada

As someone who relies on others to provide me estimates for my projects, I ask for as much breakdown as possible. If they don't give me contingency in their estimate package, I ask for it.

If they say there isn't any, I presume it's baked in and reduce the estimate by an arbitrarily determined amount. I then take all my contingency amounts out of the activities and budget line items then put them in schedule buffers and budget reserves.

Posted: Feb 10, 2022 2:27 PM (Updated by author: Feb 11, 2022 12:44 PM)

< 1 ... 4 5 6 7 8 9 >

Please login or join to reply

Padding: Is this really a "Professional Option" ?

Sponsors

Newsletters