Estimating type that takes the least amount of time
Which of the following estimating types takes the least amount of time to prepare?
A. Analogous
B. Parametric
C. Engineering
D. Bottom up
If you are reading this via email, please click here for the answer.
I think answer should be “Analogous”. But it show parametric which take more time than analogous.
Both parametric and analogous (both top-down) are relatively quick to estimate when compared with any bottom-up estimating. Generally speaking, analogous takes a bit longer than parametric since it requires expert judgment combined with historical information.
Parametric estimates should take considerably less time than analogous estimates once you have defined correctly all your parameters (basis estimates) on my opinion.