Scrum dogma is that estimates are for complexity, not effort or timing. The points you track in JIRA are meant to reflect how much of the current backlog is complete and how much is remaining. That can be extrapolated into timing but can't be done up front.
If it can't be done upfront it's largely useless for business folks ("so you have an estimate but can't translate it into time? so why do it? go away" :). If it assumes remaining work is equivalent in time to done work (notion of velocity), it's (in my view) very optimistic. People learn the nature of the beast as time progresses. Collective learning happens slowly. A lot of important work is usually only discovered…
I’ve been trying to distill this into a framework that is accessible to both development and business folks [0]. I've used it a few times and it has resulted in a few projects getting cancelled due to a massive difference in initially expected cost and post-analysis expected cost.
0 - It's basically just Scrum oriented towards providing upfront estimates. https://jonpurdy.com/pm-framework/how-to-quickly-plan-and-es...