Which estimating technique uses a statistical relationship to calculate cost or duration based on historical data and other project parameters?
A) empirical estimating
B) parametric estimating
C) grass roots estimating
D) analogous estimating

Question

Which estimating technique uses a statistical relationship to calculate cost or duration based on historical data and other project parameters?​ 
A) empirical estimating 
B) parametric estimating 
C) grass roots estimating 
D) analogous estimating

Quizplus · Accepted Answer

Parametric estimating uses statistical relationships to calculate cost or duration based on historical data and other project parameters. Empirical estimating relies on experience and past performance, while analogous estimating involves using past projects as a reference point. Grass roots estimating involves breaking down the project into smaller components and estimating each one individually. Therefore, parametric estimating is the best choice for the given scenario.

Which Estimating Technique Uses a Statistical Relationship to Calculate Cost