Which cost estimating technique requires an organization to use a larger amound of information– analogous estimating or parametric estimating?
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Answered Essay: Which cost estimating technique requires an organization to use a larger amound of information– analogous estimating or parametric estimating?
Expert Answer
Analogous technique uses some past project which is similar to the current project to estimate the cost and duration of the project as much information is not available for the present project . Parametric technique uses the relationship betweenthe resources using the information available which is more accurate than analogous technoque and requires more amount of information. So the answer is parametric estimating.
