This is a solid topic. Thanks for writing it! 🙌🏻
I've created a 3 point estimate Excel.
When I need to estimate effort for a development project I use it to get a more realistic estimation.
It even has a risk indicator that adds an extra percentage depending on the risk level, etc.
It basically allows me to write down my best case, realistic, and worst case estimation for a (sub)task.
This is less overdone than a X times multiplier but it doesn't overcome the fact that experience/historical metrics, and the need for objective estimations still remain very important.
We're a place where coders share, stay up-to-date and grow their careers.
We strive for transparency and don't collect excess data.