When scheduling any task, especially a time-consuming task, it is always prudent to assume the task will take longer than you expect.
Things happen.
Therefore, add an allowance as a contingency.
This is not padding schedules for the purpose of billing higher. Neither is it about covering your behind and ensuring you deliver before the target date.
It is simply common prudence.
If you believe a task will take 3 days and you promise to deliver it in 3 days, whoever is depending on your task may decide to commit himself to starting their task 3 days later, on the assumption that you will have delivered by that time.
If you fail to deliver as scheduled, then he will probably fail to deliver his task as well. This chain could go on through to several persons.
Not adding a contingency to your estimate is not merely being gung-ho, it's plain irresponsible.
In addition to adding a contingency to your estimate, however, you must also be prepared to work on the next task if the current task gets completed sooner than scheduled.
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