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Estimating Techniques
Karten in diesem Stapel (7)
- 1What are the types of estimating techniques?Comparative (analogous)
Bottom- up (analytical)
Parametric
Three-point - 2Describe comparative estimatingUses historical data from similar projects to extrapolate estimates for new work.
Past estimates are scaled according to scope and complexity to produce new estimates.
Most appropriate when data available from a few previous projects - 3Describe bottom-up or analytical estimatingUses a detailed specification to estimate time and cost for each component of the work.
Not possible during early stages of a project. - 4Describe parametric estimatingMultiplies the known number of units by the price of those units.
Relatively quick method.
Requires large data set of past estimates of similar work.
Small base data errors escalate to major errors later in the project. - 5Describe three-point estimatingRemoves vagaries of single point estimates.
Uses a best case, worst case and most likely case estimate for cost or duration.
Calculated using PERT formula (Program Evaluation and Review Technique) - 6What is the PERT formula?Best estimate =
(1 x best case) + (4 x most likely case) + (1 x worst case) / 6 - 7Describe Monte Carlo analysisUses multiple three-point estimates to calculate a statistical estimate by running a computer statistical analysis.
Three-point estimating forms the basis of quantitative modelling.
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- Beschreibung
- 7.10 explain estimating techniques (including analytical, comparative, parametric, three-point, PERT formulae).
- Erstellt von
- Althea Green
- Aufrufe
- 24
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