Question: At what stage do you use analogous estimation rather than Bottom up?

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Project Management Terminology

Activity Attributes. Multiple attributes associated with each schedule activity that can be included within the activity list. Activity attributes include activity codes, predecessor activities, successor activities, logical relationships, leads and lags, resource requirements, imposed dates, constraints, and assumptions.

Cost Plus Incentive Fee Contract (CPIF). A type of cost-reimbursable contract where the buyer reimburses the seller for the seller’s allowable costs (allowable costs are defined by the contract), and the seller earns its profit if it meets defined performance criteria.

Common Acronyms

FF (english) : Finish-to-Start

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Question to a Project Management Professional

Question Select the best option

At what stage do you use analogous estimation rather than Bottom up?
  1. At the project onset.
  2. During project panning.
  3. During the detailed cost estimating process.
  4. During project execution.
Answer & Explanation
Right answer
    1. At the project onset.
    2. During project panning.
    3. During the detailed cost estimating process.
    4. During project execution.

Explanation : You use analogous estimation at the very early phases of the project: such techniques is easier (based on historical information) to get but it is less accurate than bottom-up for instance. It is even a technique used during project selection activities.

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