Estimating a task or project is second only in importance to the specification. Without a good
estimate, there is no appreciation of the time that the task will take, the range and quantity of
resources required, the costs involved, or a means of planning, monitoring and controlling the
implementation. This paper discusses various estimating techniques that are used in a number
of situations such as bidding for a contract and typical university projects, and describes a
method used to impart estimating skills to inexperienced university students.