CAPM (Certified Associate in Project Management) Practice Exam

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What is a less costly and less time-consuming but less accurate estimating technique?

  1. Parametric estimating

  2. Three-point estimating

  3. Analogous estimating

  4. Expert judgment

The correct answer is: Analogous estimating

Analogous estimating is a less costly and less time-consuming estimating technique compared to other methods like parametric estimating or three-point estimating. This technique relies on historical data from similar projects to estimate the duration or cost of the current project. Although it is less accurate compared to other methods, it can be a quick way to provide ballpark figures early in the project when detailed information may not be available. Expert judgment involves input from experts in the subject matter and may be more accurate but can be more time-consuming and costly.

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