Patent ID: 8484060

Claim:
A project time estimating system, including a computer hardware processing device comprising: a system for determining with the computer hardware processing device a total project time to complete a project, wherein a plurality of tasks are required to complete the project, and wherein each task time is based upon an estimating factor; a time allocation system that generates with the computer hardware processing device at least one updated task time for each task based on the task time and an adjustment factor, wherein the adjustment factor is initially set to one, wherein the time allocation system includes an iterative algorithm that iteratively recalculates the adjustment factor to be applied to each task, and wherein the iterative recalculation generates a final adjustment factor; a system for summing with the computer hardware processing device an actual time required to complete a project phase and at least one of the task times or the updated task times for each uncompleted task, and comparing the sum to the total project time; and an on-time analysis system for determining with the computer hardware processing device an on-time likelihood for completing the project based on the final adjustment factor.