Estimating Techniques

Question 1

Techniques

Answer 1

One Point Estimating
Analogous Estimating
Parametric Estimating
Three Point Estimating
Bottoms Up Estimating

Question 2

One Point Estimating

Answer 2

The Estimator delivers only on e estimate for each activity

Question 3

Analogous Estimating

Answer 3

A top-down technique that can be used to estimate the cost, resources, and durations of projects. PMBOK says it’s less accurate than other methods, but it can be used to produce an initial estimate or order of magnitude

Question 4

Parametric Estimating

Answer 4

Uses an algorithm to calculate cost or duration based on historical data and project parameters. PMBOK says this is one of the most accurate statistical methods

Question 5

3 point Estimation

Answer 5

Uses an average or weighted average of optimistic, pessimistic, and most likely estimates when there’s uncertainty with the individual activity estimates.

Question 6

Bottoms Up

Answer 6

Asks the project team to estimate their individual work.