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project finances are anybodys favorite topic unless youre a finance director at estimating is one of the greatest challenges anybody faces in a project environment because we are assailed by biases and in an environment of uncertainty but were gonna tackle it anyway because in this video Im going to look at how to estimate project costs [Music] before I start looking at how to make our estimates I want to highlight one of the real problems we face as project managers and leaders and thats what I call the estimating knife edge of the knife edge separates the two competing pressures we have to deal with whenever were making estimates of cost or at lead of time on the one side of the knife edge is the pressure of the pull even from our clients or our bosses must sponsors are from our stake holders to minimize costs or indeed to minimize the duration of a project to get it done as quickly and as cheaply as we possibly can on the other side of the knife edge is the pull in the opposi