Hey there, fellow functional consultants! I’m fairly new to the field, but I’ve already discovered some game-changing strategies for tackling one of our biggest challenges: estimating the Level of Effort (LOE) for a Maximo implementation. If you’ve ever felt overwhelmed trying to figure out how much time and resources a project will take, you’re not alone. But don’t worry—PMP estimation techniques can help us all level the playing field. Let me share my journey and how these techniques have become my secret weapons.
The Playing Field: Understanding Level of Effort (LOE)
Picture this: you’re standing on a rough, uneven playing field. You’ve got a Maximo implementation ahead of you, specifically setting up the Work Order Tracking application with Preventative Maintenance (PM) and Job Plans. LOE is your game plan, the key to navigating this tricky terrain. Accurate estimates mean we can plan our resources, budgets, and timelines more effectively, making our projects smoother and more successful.
The MVPs: Key PMP Estimation Techniques
To turn this uneven playing field into a level one, we need some Most Valuable Players (MVPs) on our side. I’ve found that these PMP estimation techniques are like having a dream team:
1. Expert JudgmentExpert Judgment: Learning from the Veterans
Description: This technique is about tapping into the experience of seasoned pros, much like seeking advice from a veteran coach.
Application Example: When I was setting up PM schedules in Maximo for the first time, I reached out to a senior coworker. They had done this countless times and told me that it typically takes about 40 hours. Their expert judgment gave me a reliable starting point and boosted my confidence.
Analogous Estimating: Drawing Parallels
Description: Analogous Estimating involves using the duration of similar past projects to estimate the current effort, like executing a well-known play.
Application Example: I had previously worked on a similar Maximo upgrade discovery report using multiple applications, which took, let’s say 80 hours. A new project for a manufacturing client seemed similar in size & processes, I would used that 80-hour estimate as a baseline. It made my task less daunting and more familiar.
Parametric Estimating: Crunching the Numbers
Description: This technique uses statistical relationships, like a statistician calculating game odds.
Application Example: From historical data, I knew setting up one PM schedule in Maximo, let’s say, takes about 2 hours. For a project needing 20 schedules, I simply multiplied: 2 hours per schedule times 20 schedules equals 40 hours. This straightforward calculation gave me a precise estimate.
Three-Point Estimating: Balancing the Scenarios
Description: Three-Point Estimating is about considering different scenarios—optimistic, pessimistic, and most likely.
Application Example: For creating job plans, I estimated the best-case scenario at 30 hours, the worst-case at 70 hours, and the most likely at 50 hours. Using the three-point formula:
LOE = (30+50 +70)/3
This method helped me prepare for uncertainties and ensured a balanced approach.
Bottom-Up Estimating: Breaking It Down
Description: This technique involves breaking down the project into smaller tasks, like a tactician mapping out every move.
Application Example: For the Maximo implementation, I broke down the tasks:
Summing these estimates gave a total LOE of 50 hours. This detailed breakdown ensured I covered all bases and left no surprises.
Conclusion
Using PMP estimation techniques to level the playing field in Maximo implementation projects has become a game-changer for me. Whether you’re leveraging the wisdom of Expert Judgment, the strategic insights of Analogous Estimating, the precision of Parametric Estimating, the balanced approach of Three-Point Estimating, or the detailed planning of Bottom-Up Estimating, these techniques can help you navigate even the most challenging projects.
If you’re feeling overwhelmed by the task of providing LOEs, I encourage you to give these techniques a try. They’ve transformed how I approach my projects, and I’m confident they’ll do the same for you. Let’s level the playing field together and achieve more accurate, successful Maximo implementations!