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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1 March, 11:05

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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Lilianna · 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.