Project managment

What is Analogous Estimation?

An estimating technique that uses the values of parameters, such as scope, cost, budget and duration or measures of scale such as size , weight , and complexity from a previous, similar activity as the basis for estimating the same parameter or measure for a future activity. It is frequently used to estimate a parameter when there is a limited amount of detailed information about the project. Analogous estimating is form of Expert judgment. Analogous estimating is the most reliable when the previous activities are similar in fact and not just in appearance and the project team members preparing the estimates have the needed expertise