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You are here: InLoox Project management glossary Effort

Monetary value, staff hours and material needed to complete a project

Effort describes the number of labor units required to complete a project or a task, often called ‘man-hours’. Effort is usually expressed as a monetary value, staff hours or material needs. It is also called a valuation in a business sense, which means that it is a valuated consumption of company equity in a specific accounting period. Estimating the effort required to complete a project or an activity serves as a foundation to determine the duration of said project or activity. 

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