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You're performing cost estimates for your project and don't have a lot of details yet. Which of the following techniques should you use?
A. Monte Carlo analysis, because this is a modeling technique that uses simulation to determine estimates
B. Analogous estimating techniques, because this is a form of expert judgment that uses historical information from similar projects
C. Parametric modeling, because this is a form of simulation used to determine estimates
D. Bottom-up estimating techniques, because this is a form of expert judgment that uses historical information from similar projects
B
Analogous estimating-also called top-down estimating-is a form of expert judgment. Analogous estimating can be used to estimate cost or time and considers historical information from previous, similar projects.
