## Analogous Estimates

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nazrulq
Contributor
Posts: 270
Joined: Sun Feb 26, 2017 6:06 am

### Analogous Estimates

Question :
You are working on cost estimates of a project and you are the project manager. You got to know that in past two similar projects has been done and successfully delivered. You approach the PMO department to get the cost performance baselines, lessons learned and other information that can help with your cost estimate. What cost estimate technique are you using?

1.Parametric Estimation

2.Net Present Value

3.Rough Order of Magnitude

4.Analogous Estimation

Correct option 4

Just two add word similar then the answer would be fine. Otherwise answer It could be parametric.

Any suggestion!
Prembalaji
Participant
Posts: 69
Joined: Wed May 10, 2017 1:38 pm

### Re: Analogous Estimates

Parametric Estimating = ( Analogous Estimate + certain formula ) , the formula may be an explanation on the Scale at which the previous Projects is bigger or smaller to that of the current project ,

Since there is no such explanation about the scale or magnitude at the difference between the Current Project and the Previous project , it is best to go with " Analogous Estimate "
Cheers,
PJ
nazrulq
Contributor
Posts: 270
Joined: Sun Feb 26, 2017 6:06 am

### Re: Analogous Estimates

Not really cleared!

Can Manish explain elaborately please!
nazrulq
Contributor
Posts: 270
Joined: Sun Feb 26, 2017 6:06 am