Analogous estimation work
Allan is the project manager and working on project estimates. He is working on a technique that employs estimation similar to a previous project. This reference estimation will work if the team and the activities in the previous project are the same. Identify the estimation technique that Allan is working on.
A. Bottom-up estimation.
B. Three-point estimation.
C. Parametric estimation.
D. Analogous estimation.
Answer: Option D is correct.
Analogous estimation
Analogous estimation is the correct answer. This estimate uses the information from similar projects which is done before, with the same size, complexity, scope and budget, schedule and it uses the estimate for the current project. One drawback in this estimation is, it is less accurate. This estimation is used during the earlier stages of the project when limited information is available. It uses historical information and expert judgment for estimation. It is also known as a top-down approach.