Three Point Estimation
Three Point Estimation is a project management technique used to estimate the duration or cost of tasks by considering three scenarios: optimistic (best-case), pessimistic (worst-case), and most likely. It helps account for uncertainty and variability in project planning, often using formulas like the triangular distribution (average of the three points) or PERT (Program Evaluation and Review Technique) distribution (weighted average). This method provides a more realistic range of estimates compared to single-point estimates.
Developers should use Three Point Estimation when working on projects with high uncertainty, such as software development tasks involving new technologies, complex requirements, or research components. It is particularly valuable in agile and scrum methodologies for sprint planning, as it helps teams set more accurate timelines and manage stakeholder expectations by quantifying risk and variability in estimates.