To manage inaccurate estimations effectively, consider the following best practices:

1. **Use Historical Data**: Leverage data from past projects to inform your estimates. Analyze past project budgets, timelines, and resource usage to create more accurate predictions.

2. **Involve Experts**: Consult team members and stakeholders with relevant experience when creating estimates. Their insights can help identify potential pitfalls and offer realistic perspectives.

3. **Break Down Tasks**: Decompose the project into smaller, manageable tasks. Detailed task estimation tends to be more accurate than high-level project estimates.

4. **Apply Estimation Techniques**:
   - **Three-Point Estimation**: Use optimistic, pessimistic, and most likely estimates to calculate an average that accounts for uncertainty.
   - **Analogous Estimating**: Base estimates on similar projects, adjusting for differences in scope, complexity, and context.

5. **Regular Reviews and Adjustments**: Conduct regular reviews of estimates throughout the project lifecycle. Adjust estimates based on new information or unforeseen challenges.

6. **Include Contingencies**: Incorporate a contingency reserve into your budget to accommodate unforeseen costs. This "buffer" can help prevent overruns when inaccuracies occur.

7. **Use Software Tools**: Employ project management software that includes estimation tools, tracking capabilities, and templates to aid in creating and adjusting budgets.

8. **Document Assumptions**: Clearly document the assumptions made during the estimation process. This transparency helps in understanding the basis for estimates and facilitates adjustments when conditions change.

9. **Foster a Culture of Communication**: Encourage open communication among team members regarding challenges and uncertainties. This environment allows for early identification of issues that could affect estimates.

By adopting these practices, you can enhance the accuracy of your project estimations and mitigate the risks associated with budget overruns.