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Current project and keeping a talented team happy

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Project estimations vary from each project the key is adjusting to the level of your current project and keeping a talented team happy and together. A few examples of project estimation are Analogous Estimating, Parametric Estimating, Three Point Estimating, and Bottom-up Estimating.

To begin, Analogous is used when there is little to know about the project and or you do not have the full scope. This could mean that the budget could be low or maybe not. It may be use to mirror previous projects you used in estimations. This one is also known as the top-down estimation.

Second is the Parametric type, just as the Analogous, it references past project estimation to collect cost. In some cases this works better because it employs more than one variable or data set.

Please explain this statement?

Reference no: EM132348303

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