> A reasonable model for the “blowup factor” (actual time divided by estimated time) would be something like a log-normal distribution. Interestingly, we did extensive time tracking on a multi-year in-house software project and collected data comparing the estimated completion time of tickets with their actual time. The software department was under a lot of pressure to improve their forecasting, and were somewhat de…
There are some possible exceptions. For example, some organizations may have a lot of work unplanned but that unplanned work is segregated to not affect people working on planned work, etc. For example, you may have operations and development teams where operation absorbs most of the unplanned stuff and only rarely bothers the development.
Now, just because work can be accurately planned doesn't mean the organization is efficient. As an example, military tends to be relatively quite good at planning, very inefficiently (ignore the latest failed high profile project...) On the other hand startups tend to be more efficient while also less predictable environments.
I like to think that at some scale of the project some level of trust in projections is necessary to be able to even organize the project. So some drop in efficiency is acceptable in order to be able to plan work.