analogous cost estimating
Analogous cost estimating is a method of estimating the cost of a project based on similarities to past projects of a similar nature or scope. It involves comparing and extrapolating costs from previous completed projects that are comparable in size, complexity, or other relevant attributes to the current project being estimated.
Requires login.
Related Concepts (1)
Similar Concepts
- analogical reasoning
- bottom-up cost estimating
- construction cost estimating
- cost analysis
- cost estimating accuracy
- cost estimating in project management
- cost estimating metrics
- cost estimating uncertainty
- cost estimation
- cost estimation and forecasting
- cost estimation models
- cost estimation techniques
- manufacturing cost estimating
- parametric cost estimating
- top-down cost estimating