Parametrical estimating.

Success Problem

What is parametrical estimating?

Impact

Usable only if related statistical data are at disposal.

Recommendation

Parametrical estimating is a method for estimating cost and activity duration, based on utilizing the historical (statistical) data for detemining the mathematical or logical relation (formula) of some type of cost or duration with different parameters of the object which cost or duration is intended to be estimated. These are e.g. volume, dimension, area, frequency, density etc. After introducing the specific values to this formula the estimate is received.

Category

• Schedule & Time