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What is analogous estimating?
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Elizabeth Harrin FAPM
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Find out what analogous estimating is and when to use it.
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What is analogous estimating?
1.
What is analogous estimating?
2.
Analogous estimating is a form
of project estimating for cost and duration
3.
A definition...
4.
Using the actual
duration or cost of a previous, similar activity as the basis for estimating the duration or cost of a present or future activity. “ ” Dictionary of Project Management Terms, 3rd Edition, J. LeRoy Ward
5.
What? It is ‘top
down’ estimating
6.
Analogous estimating is used when...
7.
1. You don’t
know much about this project 2. The project is similar to other projects
8.
3. The estimators have
a lot of experience with the subject matter
9.
Analogous estimating is the technique
of choice for early estimates
10.
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