Question

Which estimating technique uses a statistical relationship between historical data and other variables (e.g., square footage in construction, lines of code in software development) to calculate an estimate for scope, cost and duration?

Answer 1

Answer:

Parametric estimating

Explanation:

It is a calculation technique in which an algorithm is used to calculate the cost or duration based on historical data and project parameters.

The parametric estimation uses a statistical relationship between historical data and other variables (eg, square meters of construction) to calculate a variable of the parameters of an activity such as cost, budget and duration.