SOFTWARE PROJECT MANAGEMENT
PROJECT SCHEDULING AND TRACKING
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Question
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You can use various estimating approaches to determine activity durations. When you have a limited amount of information available about your project, especially when in the early phases, the best approach to use is-
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Bottom-up estimating
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Analogous estimating
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Reserve analysis
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Parametric analysis
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Explanation:
Detailed explanation-1: -Parametric Estimating As an important tool to estimate activity duration, the Parametric Estimation Technique can be considered as a consolidation of historical information and statical data.
Detailed explanation-2: -Project estimation is the process of forecasting the time, cost, and resources needed to deliver a project. It typically happens during project initiation and/or planning and takes the project’s scope, deadlines, and potential risks into account.
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