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It's a bit of educated guesswork I find. I cobbled mine together from 20 min tests on a turbo and bests for normalised power over 20 mins and 60 mins out on the road on recent rides. As @danstuff said though, you need to take 95% of a 20 min effort.
The problem with 20 min tests is getting the pacing right. That's why I tend to prefer going off 60 mins outdoors and allowing for the fact that it's not totally full out due to traffic, freewheeling around corners etc
Cool, thanks. Interestingly, for the whole 72min my average was higher than my 60min... I guess that makes sense, going harder at the beginning and end must've bumped the total average up. Think I'll stick with 240w for now and see how that feels training.
How does everyone else here estimate their ftp?