2. The difference between analogous and parametric estimating is:
A. Analogous estimating uses historical information while parametric estimating is based
on expert judgment.
B. Analogous estimating uses historical information while parametric estimating is based
on three-point estimating.
C. Analogous estimating uses three estimates to define an activity's cost while parametric
estimating uses historical information.
D. Analogous estimating is generally less accurate than parametric estimating.
HINT: Parametric estimating is analogous estimating with considering other variables that
reflect the difference between the project and previous ones.
QUESTION:
3. The correct answer is D.
Analogous and parametric are two popular cost estimation methods that are mainly based
on historical data from previous projects.
While analogous estimating uses the values such as cost, budget, and scope from previous
projects as a basis for estimating the same parameters of a current project, parametric
estimating often combines such information with other variables or other project
parameters to calculate the values.
Thus, parametric estimating provides a more accurate result, compared with the
analogous method.
ANSWER:
4. All our questions are updated to the latest A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) standard.
Stop by at free.pm-exam-simulator.com/ and try the PM Exam Simulator free for 7 days.
