From most of the team project, with higher roles like: project manager, product owner, and engineering manager will need to understand the workload of each members from the team, to see what they has been doing so far in the product development. The story point is one of the way to determine that.
So, at this point, story points estimation is one of the important part when defining the works in the future sprint for each members in the team during the Sprint Planning. A good estimation will help product owners optimize for efficiency and impact. How do we do the estimation precisely?
Collaborate with your project manager, product owner
Usually, before the sprint planning happens, PM/PO will take time to prepare for the tickets are going to do in the future sprint - most of the tickets are captured based on the desired features and fixs for a product from customer's requirements.
Hence, those tickets are in the very common statement since most of the PM/PO does not understand much from the technical site for the implementation. Leading to hard for all of the members to estimate their work.
So, to separate works precisely and more easy to estimate, a team members can give PMs new insight into the level of effort for each work item. Like, can giving PMs a definition of their work for example.
Agile estimation is a team sport
During the estimation, it should be involving by eveyone members in the team (developers, designers, testers, etc.). Why? Because each of them will have a different perspective on the product and the work required to deliver for the feature.
Estimate smarter, not harder
Usually, when estimating, we will based on the time that our member need to finish their work. For example: 1-2 points for about 2-4 hours. So when having a big requirement ticket, we should break it into the subtasks or smaller tasks to keep track the work better and easy for the team to estimate also.
Another common method that most of the team using to estimate calls Planning Poker. For this method, it is definitely requires the participant of every members when doing the estimate. It is simple that, after the providing information for the ticket's story, based on the agreement from every team players, we can have a final estimation for the ticket. For more information, can walk through with the provided documentation from Atlassian team from the link below.
Learn from the past estimates
After every sprint, we have a meeting calls "Retrospectives", each members will giving their opinion about the previous sprint. We will based on to discuss and give the proper solution on the next job for estimating the work better for the team.