PK0-005 Project Life Cycle Practice Question
Which cost estimation technique uses historical data from similar projects to estimate the cost of the current project?
Answer choices
Why each option matters
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
✓
Analogous estimating
Analogous estimation uses historical data from similar projects as a basis for estimation.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✗
Parametric estimating
Why it's wrong here
Parametric estimating uses statistical relationships between variables.
- ✗
Bottom-up estimating
Why it's wrong here
Bottom-up estimating uses detailed cost estimates from lower-level work packages.
- ✗
Three-point estimating
Why it's wrong here
Three-point estimating calculates a weighted average of optimistic, pessimistic, and most likely estimates, but it does not derive its baseline from historical data of analogous projects; instead, it relies on expert judgement to define those three values. This option is tempting because it is a formal technique for refining cost accuracy, and it would be the correct choice if the question asked for a method that accounts for uncertainty and risk in individual task estimates rather than requiring historical analogy.
- ✓
Analogous estimating
Why this is correct
Analogous estimating uses historical data from similar projects.
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