A project team is conducting cost estimation for a project that uses a predictive lifecycle. They have historical data from similar projects. Which estimation technique is MOST appropriate?
Trap 1: Three-point estimating
Three-point uses optimistic, pessimistic, and most likely, not historical data.
Trap 2: Parametric estimating
Parametric uses statistical relationships, not directly from similar projects.
Trap 3: Bottom-up estimating
Bottom-up is detailed and requires decomposition.
- A
Three-point estimating
Why wrong: Three-point uses optimistic, pessimistic, and most likely, not historical data.
- B
Analogous estimating
Analogous uses historical data from similar projects.
- C
Parametric estimating
Why wrong: Parametric uses statistical relationships, not directly from similar projects.
- D
Bottom-up estimating
Why wrong: Bottom-up is detailed and requires decomposition.