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Comparative or analogous estimating shows that you can use your knowledge and past comparable projects to base your new project off. Top-down is an estimating method that encompasses using a work breakdown structure and data from prior projects. However, it is not as complicated as the bottom-up which goes in to much more detail. Bottom-up method is likely the most common, in the sense it uses a very detail oriented work breakdown structure. Each task is separated and estimated accordingly. Finally, the parametric modeling estimating method deals with extensive data from your prior projects and analysis to get estimations. Overall, all these methods have their benefits and drawbacks and I believe often it is several methods combined into one that you end up using.
Is the statement sufficient and why?
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