The below is a joke, but sadly it is representative of most teams I have worked on. If it's like anything that most managers do, you have the team come up with estimates, have some meetings to see if you missed anything, discover that you did, then create a schedule, remembering to add slack time for unforeseen interruptions due to people getting sick, customer issues, etc. Then you see that the schedule is too long.…
As a dev who has quite some freedom managing himself, I learned to multiply my own estimates by about 2-2.5. If I had a bad case of managers, I would probably multiply by four.
What happens is that the difference between the estimate that management will psychologically accept to begin the project (and then commit to due to sunk cost fallacy) and the actual schedule is about a factor of 3.