Analogy or Comparison Estimating
Analogy or comparison estimating is also called analogous estimating. It uses the actual cost of a previous, similar project as the basis for estimating the cost of the current project. Adjustments must be made to account for differences in performance, design, technology, and operational characteristics.
It is very important to consider the source and quality of analogous data. When considering the source, ask the following questions: Is it plan data? Is it actual data? How old is the data? What were the assumptions behind the data?
The following figure shows the steps for estimating using the analogy or comparison method.
Estimation Methods
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