clarification required

 

Dear Friends,

I am not clear about the difference in Analogous estimating & Parametric Estimating.

As per my knowledge, both of them use historical information to estimate, so what is the difference ?

Kindly help me in understanding this.

Regards

Hari

admin's picture

Analogous is saying that because his house took $X my house will also take around $X . . Here house completed earlier provides the data of cost. Hence it uses historical information. Parametric is saying that because his house is 1000 Sq ft and it took $X to complete my house being 2000 sq ft with same quality it will take $2X ... here you can see some extrapolation.

 See this page also http://pmzilla.com/confused-quotanalogous-estimatingquot-method

Hi,

You can read this article http://www.pmbypm.com/analogous-parametric-estimation/ to understand the difference with examples.

BR.