{"id":37476,"date":"2023-12-08T23:36:14","date_gmt":"2023-12-08T23:36:14","guid":{"rendered":"https:\/\/masterskills.org\/blog\/tong-hop-estimating-analogous-estimating-vs-parametric-estimating-vs-three-point-estimating-vs-bottom-up-estimating.html"},"modified":"2023-12-24T21:46:59","modified_gmt":"2023-12-24T14:46:59","slug":"tong-hop-estimating-analogous-estimating-vs-parametric-estimating-vs-three-point-estimating-vs-bottom-up-estimating","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/tong-hop-estimating-analogous-estimating-vs-parametric-estimating-vs-three-point-estimating-vs-bottom-up-estimating.html","title":{"rendered":"T\u1ed5ng h\u1ee3p Estimating: Analogous Estimating vs. Parametric Estimating vs. Three-point estimating vs. Bottom-Up Estimating"},"content":{"rendered":"
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<\/p>\n\n\n\n\n\n\n\n\n
\n

One-point estimating<\/strong><\/span><\/p>\n<\/td>\n

\n

Three-point estimating<\/b><\/span><\/p>\n<\/td>\n

\n

Bottom-Up Estimating<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Analogous Estimating<\/b><\/span><\/p>\n

(Top-Down)<\/b><\/span><\/p>\n<\/td>\n

\n

Parametric Estimating<\/b><\/span><\/p>\n<\/td>\n

\n

Heuristics<\/span><\/p>\n<\/td>\n

\n

Triangular distribution<\/b><\/span><\/p>\n

(Simple Average)<\/b><\/span><\/p>\n<\/td>\n

\n

Beta distribution \/ PERT<\/b><\/span><\/p>\n

(Weighted Average)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

using historical data from a previous, similar activity or project<\/span><\/p>\n<\/td>\n

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using a statistical relationship between historical data and other variables<\/span><\/p>\n<\/td>\n

\n

A heuristic means a generally accepted rule, or best practice<\/span><\/p>\n<\/td>\n

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Using three-point estimates helps define an approximate range => cover risk.<\/span><\/p>\n

Most likely (M): realistic expectations<\/span><\/p>\n

Optimistic (O): best-case<\/span><\/p>\n

Pessimistic (P): worst-case<\/span><\/p>\n<\/td>\n

\n

Doing this type of estimating well requires an accurate WBS<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

– relies on the actual duration of previous, similar projects to estimate duration of the current project.<\/span><\/p>\n

– a gross value estimating approach, adjusted for known differences in project complexity.<\/span><\/p>\n

– less costly, less time-consuming, and\u00a0 less accurate.<\/span><\/p>\n<\/td>\n

\n

This technique quantifies duration by multiplying the quantity of work to be performed by the number of labor hours per unit of work.<\/span><\/p>\n

Regression analysis (scatter diagram): This diagram tracks two variables to see if they are related; the diagram is then used to create a mathematical formula to use in future parametric estimating.<\/span><\/p>\n<\/td>\n

<\/td>\n\n

E = (O + M + P) \/ 3<\/span><\/p>\n

Depending on the assumed distribution of values within the range of the three estimates, the expected duration (E) can be calculated<\/span><\/p>\n<\/td>\n

\n

E = (O + 4M + P) \/ 6<\/span><\/p>\n

This method gives stronger consideration to the most likely (M) estimate (x 4)<\/span><\/p>\n

SD = (P \u2013 O)\/ 6<\/span><\/p>\n

Activity standard deviation (SD) is the possible range for the estimate. SD = sigma (\u03c3).<\/span><\/p>\n<\/td>\n

\n

aggregating the estimates of the lower-level components of the WBS (activity or work package (if activities are not defined)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Uses this if the scenario indicates that you don\u2019t have a lot of experience or historical info,<\/span><\/p>\n

Exam keyword: new project, no experience, not much reliable data, simple, straight.<\/span><\/p>\n<\/td>\n

\n

Uses this if scenario indicates there are historical data or samples to work with<\/span><\/p>\n

Exam keyword: experts, similar to previous projects, need a more accurate estimate<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

the last five projects similar to this one each took eight months, so this one should as well.<\/i><\/span><\/p>\n<\/td>\n

\n

If the assigned resource is capable of installing 25 meters of cable per hour, the duration required to install 1,000 meters is 40 hours <\/i><\/span><\/p>\n<\/td>\n

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Design work is always 15 percent of the total project length or 80\/20 rule<\/i><\/span><\/p>\n<\/td>\n

\n

Terms like \u201csimple\u201d or \u201cstraight\u201d refer to triangular distribution,<\/span><\/p>\n

\u201cweighted\u201d refers to beta distribution.<\/span><\/p>\n

Beta distribution leverages the benefits of risk management in reducing the uncertainty of estimates.<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/p>\n

:<\/b><\/span><\/p>\n

<\/b><\/span><\/p>\n

M\u1eccI CHU\u1ea8N B\u1eca CHO PMP<\/b><\/span><\/p>\n


<\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

One-point estimating Three-point estimating Bottom-Up Estimating Analogous Estimating (Top-Down) Parametric Estimating Heuristics Triangular distribution (Simple Average) Beta distribution \/ PERT (Weighted Average) using historical data from a previous, similar activity or project using a statistical relationship between historical data and other variables A heuristic means a generally accepted rule, or best practice Using three-point estimates […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[250],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/37476"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=37476"}],"version-history":[{"count":1,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/37476\/revisions"}],"predecessor-version":[{"id":69211,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/37476\/revisions\/69211"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=37476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=37476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=37476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}