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Estimated Time To Complete (ETC)

Term Definition
Estimated time to complete is a projection of the time and or effort required to complete a project activity. Estimated time to complete is a value that is expressed in hours of work required to complete a task or project.

During the initial stages of project planning one of the main objectives is to get a realistic estimation of time to complete. Estimating the time to complete is one component of the project plan. Estimating the time to complete will assist with resource, cost and time planning. You can use the work breakdown structure to facilitate estimation. You can review the tasks at the bottom of the work breakdown structure and look for the longest path through the sequence diagram. You can then use experience from previous projects to estimate the time it will take to complete the tasks. Having access to usable data is a key element of accurately estimating time to complete. For example, let's assume that you are the project manager for the construction of a new home. The home will require laying a foundation for a 1300 square foot home. You review data from previous construction projects that required a foundation, and see that the task has taken four days to complete on past projects. Thus, in your project plan you can estimate the time of completion as four days. In this same way you can use past data to estimate the time of completion of an entire project.

In the absence of historical data or experience you would have to guesstimate, which is inefficient and error prone. To develop a schedule, all of the tasks and estimates are placed in a calendar. The calendar would include a specified time period, identify resources and their allocation, how much time the task is expected to take and when each task is scheduled to start and finish.

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Project Plan

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"Tenrox is the most robust
and forward -thinking project workforce management product I have seen for addressing our project workforce management, billing and cost accounting needs. We expect a full return on our investment in less than six months, just for the first phase of implementation."

Russ H.
EVP and Co-founder
Synteract

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Tenrox web based enterprise project management software is a modular solution that helps simplify your, project planning, project tracking, project accounting, expense tracking, enterprise resource / capacity planning, and time and billing.

Traditional project planning and project management software tools put the burden of creating and updating project plans on the managers shoulders. Tenrox makes your project planning and management quicker and easier by using simple and effective workflow tools to help you get the job done quicker and easier.

Our online business project planning and project accounting system is workflow-driven and replaces the spreadsheets and band-aid applications that leave your project-driven work force and processes disconnected. With work breakdown structures to mirror the way you do business, Tenrox allows you to easily map your projects to your corporate structures: Capture and track project data at any level of detail, mirror every business operation area with distinct functional and approval hierarchies, and summarize or drill down into your project workforce financials. Tenrox is the perfect online enterprise project management software solution to align your projects and workforce with your business goals.

With online project management tools by Tenrox, you obtain real-time information on costs, expenses, revenue, profits, project status, schedules and issues, ensuring successful project management planning and delivery. Tenrox Project Workforce Management Software meets the needs of both service organizations for professional services automation and for internal project management offices so you can manage and view both process and financial impact in real time.

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