Which aspect is crucial for project managers to oversee to ensure accurate estimates?

Timelines are a critical aspect for project managers to oversee to ensure accurate estimates. Accurate project estimation relies heavily on understanding the schedule within which tasks are to be completed. If timelines are mismanaged or inaccurately predicted, it can lead to a domino effect affecting labor costs, material procurement, equipment usage, and ultimately the overall project budget.

By effectively managing timelines, project managers can provide realistic estimates that align with project deliverables. Keeping a close watch on the project schedule allows for timely adjustments to estimates in light of any project delays or advances, helping in minimizing the risk of cost overruns and ensuring project completion within budget and on time. Accurate timeline management is thus essential to mitigate risks and keep the project on track, directly influencing the precision of the cost estimates.