You work as a project manager for uCertify Inc. You have been assigned a new project that does not have a cost estimate. You're estimating the cost of the project on the basis of similar activities from the previous projects. Which technique are you using

Question

Haylee Aguirre

Business

12 March, 11:46

You work as a project manager for uCertify Inc. You have been assigned a new project that does not have a cost estimate. You're estimating the cost of the project on the basis of similar activities from the previous projects. Which technique are you using

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Answers (1)

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Xzavier Gaines · Answer 1

Analogous

Explanation:

The analogous technique is one that is used to estimate the duration or cost of an activity or project by using historical data from a similar activity or project.

It uses parameters such as duration, budget, size, load and complexity, as a basis for estimating the same parameters or measures for a future project.

It is usually the fastest and most economical technique, but also the most imprecise.