Which of the following types of estimate use the actual cost of a previous, similar project as the basis for estimating the cost of the current project?
A)Definitive estimates
B)Parametric estimates
C)Bottom-up estimates
D)Analogous estimates

Question

Which of the following types of estimate use the actual cost of a previous, similar project as the basis for estimating the cost of the current project?
A)Definitive estimates
B)Parametric estimates  
C)Bottom-up estimates
D)Analogous estimates

Quizplus · Accepted Answer

Analogous estimates use the actual cost of a previous, similar project as the basis for estimating the cost of the current project. This technique requires a good deal of expert judgment and is generally less costly than other techniques, but it is also less accurate.

Which of the Following Types of Estimate Use the Actual