Question

A project manager is estimating costs on her video game development project. She utilizes total costs from a similar project that was completed last year to estimate the costs on her current project. This is an example of:______
A) Analogous estimation
B) Parametric estimation
C) Bottom-up estimation
D) Rough order magnitude estimation

Answer 1

Answer:

A) Analogous Estimation

Explanation:

Analogous Estimation is the process of comparing past costs and expenses of projects to make estimations for the current projects. This is usually used when there is data limitation for accurate estimations on the current projects.

Parametric is where a unit rate is devised to calculate project costs comprising of several units.

Bottom up estimation deals with estimating smaller cost components and then using the sum of these components to make larger estimates.

Option D is based on rough estimates on the time and effort required for a project.

None of the other options thus take into account past work other than the analogous estimation technique.

Hope that helps.