PGMP · Question #206
You are the program manager for the HNY Corporation and you complete programs for other companies in your role. You have just been assigned a new program that is very similar to a recently completed…
The correct answer is C. Analogous. Analogous estimating (also called top-down estimating) uses historical information from a similar past project or program as the basis for estimating the current one. In this case, using the recently completed similar program as the reference is a textbook example of analogous…
Question
You are the program manager for the HNY Corporation and you complete programs for other companies in your role. You have just been assigned a new program that is very similar to a recently completed program you did for your company. Management has asked you to create a cost estimate for the program so you base your current cost estimate on the recently finished program. What type of estimating technique have you used in this instance?
Options
- ARough order of magnitude
- BParametric
- CAnalogous
- DBottom-up
How the community answered
(37 responses)- B3% (1)
- C92% (34)
- D5% (2)
Explanation
Analogous estimating (also called top-down estimating) uses historical information from a similar past project or program as the basis for estimating the current one. In this case, using the recently completed similar program as the reference is a textbook example of analogous estimating. It is generally less accurate but quicker and less costly to produce. Parametric estimating uses statistical relationships between variables. Bottom-up estimating builds the estimate from individual work packages upward. Rough order of magnitude (ROM) is a very early, high-level estimate (typically -25% to +75%) not derived from a specific comparable program.
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