What is estimation in SAP PS - Project System?

SAP Term: estimation

• Component: PS

• Component Name: Project System

• Description: A technique for determining the percentage of completion POC in progress analysis. In estimation, you enter the POC manually in the work breakdown structure or in the network. Until an activity is complete, that is, until you know the finish date, the actual POC must not exceed the maximum POC. 80% is the recommended maximum POC in estimation.

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• Key Concepts: 
  Estimation in SAP Project System (PS) is the process of predicting the cost and duration of a project. It is used to create a budget and timeline for the project, and to identify potential risks and opportunities. Estimation is based on the project's scope, resources, and other factors. 
  
  How to use it: 
  In SAP PS, estimation is done by creating a project plan. This plan includes tasks, resources, costs, and other information related to the project. The plan is then used to create an estimate of the project's cost and duration. The estimate can be used to create a budget and timeline for the project. 
  
  Tips & Tricks: 
  When creating an estimate in SAP PS, it is important to consider all potential risks and opportunities associated with the project. This will help ensure that the estimate is accurate and that the project can be completed within budget and on time. 
  
  Related Information: 
  For more information about estimation in SAP PS, please refer to the official SAP documentation: https://help.sap.com/viewer/product/PROJECT_SYSTEM/100/en-US