Work expands to fill the time you have. If you don't set a goal, you'll never ship. Estimation is not an exact science, but, I rather set a goal post that I can move if I need to than not have one at all.
>>webarc+(OP)
"Parkinson's law is the adage that "work expands so as to fill the time available for its completion". It is sometimes applied to the growth of bureaucracy in an organization."
>>webarc+(OP)
The problem is that negotiations phase where the devs get screwed down on the “price”. This is of course a silly thing for management to do given they are paying by the hour anyway!