Set up a dart board. Each point on the dart board represents $1M (1-20). The rings represent the following:
- The bulls eye is $100k
- The ring around the bullseye is $300k
- The next ring out is .6x
- The outer ring is .8x
Take three darts and aim for the bullseye. Average the scores of the three shots. This is your “high-level” estimate for each project.
p.s. originally read it somewhere and found it reviewing my notes 🙂