Personally, I prefer the 80/20 rule. That is most of the work will go fair quickly, or at least uneventful. It's the last bit that's always the killer. The devil is in the details, as they say.
When asked for an estimate we quickly identify the 80. The key is to pause and not write off the remaining 20.
p.s. Early in my career I read somewhere (I wish I couple remember where) something along the lines of:
Alomst everything takes twice as long and costs twice as much as your original estimate.
If I had $20 for every time I found that to he true, I wouldn't have time for HN. I'd be too busy counting my money.