Project estimating system and method
First Claim
1. A project time estimating system, including a computer hardware processing device comprising:
- a system for determining with the computer hardware processing device a total project time to complete a project, wherein a plurality of tasks are required to complete the project, and wherein each task time is based upon an estimating factor;
a time allocation system that generates with the computer hardware processing device at least one updated task time for each task based on the task time and an adjustment factor, wherein the adjustment factor is initially set to one, wherein the time allocation system includes an iterative algorithm that iteratively recalculates the adjustment factor to be applied to each task, and wherein the iterative recalculation generates a final adjustment factor;
a system for summing with the computer hardware processing device an actual time required to complete a project phase and at least one of the task times or the updated task times for each uncompleted task, and comparing the sum to the total project time; and
an on-time analysis system for determining with the computer hardware processing device an on-time likelihood for completing the project based on the final adjustment factor.
2 Assignments
0 Petitions
Accused Products
Abstract
A system and method for calculating task times for a project. A project estimating system is disclosed that allocates time to a list of tasks, comprising: a system for determining a total project time to complete a project; and a time allocation system that generates a task time for each task based on the total project time and an estimating factor associated with each task, wherein the time allocation system includes an iterative algorithm that iteratively calculates an adjustment factor to be applied to each task. Finally, the calculated adjustment factor can be compared against preset levels and provide an indication of project risk and the likelihood that the project will complete on time.
34 Citations
12 Claims
-
1. A project time estimating system, including a computer hardware processing device comprising:
-
a system for determining with the computer hardware processing device a total project time to complete a project, wherein a plurality of tasks are required to complete the project, and wherein each task time is based upon an estimating factor; a time allocation system that generates with the computer hardware processing device at least one updated task time for each task based on the task time and an adjustment factor, wherein the adjustment factor is initially set to one, wherein the time allocation system includes an iterative algorithm that iteratively recalculates the adjustment factor to be applied to each task, and wherein the iterative recalculation generates a final adjustment factor; a system for summing with the computer hardware processing device an actual time required to complete a project phase and at least one of the task times or the updated task times for each uncompleted task, and comparing the sum to the total project time; and an on-time analysis system for determining with the computer hardware processing device an on-time likelihood for completing the project based on the final adjustment factor. - View Dependent Claims (2, 3, 4)
-
-
5. A project time estimating method, comprising at least one computing device for processing the steps of:
-
calculating with a computer hardware processing device a total project time to complete a project, wherein a plurality of tasks are required to complete the project, wherein each task time is based upon an estimating factor, and wherein the total project time is based on; a project type that outlines each phase of the project; an estimated relative time required to complete each phase; and an actual amount of time taken to complete at least one phase; and providing an estimating factor for each task; calculating at least one updated task time for each task based on the task time and an adjustment factor, wherein the adjustment factor is initially set to one, wherein the calculating updated task time includes an iterative algorithm that iteratively recalculates the adjustment factor to be applied to each task, and wherein the iterative recalculation generates a final adjustment factor; summing an actual time required to complete a project phase and at least one of the task times or the updated task times for each uncompleted task, and comparing the sum to the total project time; iteratively repeating the calculating updated task time and summing steps until the adjustment factor falls within a proximity to a predetermined value; determining a likelihood that the project will be completed on time based on the final adjustment factor; and generating at least one of a total project time report and a time allocation report. - View Dependent Claims (6, 7)
-
-
8. A computer readable medium storing a program product for estimating project time, comprising:
-
program code for calculating a total project time, wherein a plurality of tasks are required to complete the project, and wherein each task time is based upon an estimating factor; program code for calculating at least one updated task time for each task based on the task time and an adjustment factor, wherein the adjustment factor is initially set to one, wherein the program code for calculating at least one updated task time includes an iterative algorithm that iteratively recalculates the adjustment factor to be applied to each task, and wherein the iterative recalculation generates a final adjustment factor; program code for summing an actual time required to complete a project phase and at least one of the task times or the updated task times for each uncompleted task, and comparing the sum to the total project time; program code for iteratively revising the adjustment factor until the adjustment factor falls within a proximity to a predetermined value program code for determining a likelihood of on-time completion based on the final adjustment factor; and program code for generating at least one of a total project time report and a time allocation report. - View Dependent Claims (9, 10, 11, 12)
-
Specification