Analogous Cost Estimating relies on which of the following techniques?

Question

Options

• AExpert Judgment
• BProject Management Software
• CVendor Bid Analysis
• DReserve Analysis

• A
  72% (31)
• B
  16% (7)
• C
  5% (2)
• D
  7% (3)

Explanation

Analogous Cost Estimating uses Expert Judgment (A) because it relies on historical data from similar past projects, and the estimator must exercise expert judgment to determine how comparable those past projects are to the current one - the technique is inherently experience-driven. Project Management Software (B) is a tool used in other estimation methods like bottom-up or parametric estimating, not a defining technique of analogous estimating. Vendor Bid Analysis (C) is used to evaluate supplier quotes and is part of procurement, not cost estimation methodology. Reserve Analysis (D) is a technique for determining contingency or management reserves, which is a separate step after an estimate is produced.

Memory tip: Think of "analogous" as "analogy" - you're drawing on someone's experience with similar past work. That expertise is the whole point, making Expert Judgment the natural fit.

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