Which practice involves the process of creating valid estimates for project work?

The practice that involves creating valid estimates for project work is centered on estimating. This process focuses on evaluating and predicting the resources required, such as time, cost, and effort, to complete project tasks. Accurate estimates are crucial for effective project planning as they inform budget allocations and schedule development, and ultimately contribute to the overall success of the project.

In project management, estimating is often a specialized activity where quantitative techniques, historical data, expert judgment, and decision-making processes are utilized to develop realistic and achievable estimates. This practice helps ensure that the project team has a clear understanding of the work scope and can allocate resources appropriately to meet the project's goals effectively.

While planning encompasses broader aspects of outlining the project's objectives, deliverables, timelines, and resources, estimating is a more focused activity specifically targeted at generating quantitative predictions necessary for executing those plans. Execution involves implementing the project plan, and monitoring refers to tracking the progress and performance against the plan. Therefore, estimating is the definitive practice for creating valid project work estimates.