There are four ways to estimate the cost and schedule of your project that you need to know for your PMP and CAPM exam.

Analogue estimation: looking at historical data

Parametric estimation: Looking at statistical data to get estimates for your current project

Three-point estimation: Determination of 3 estimation points (optimistic, most likely and pessimistic) and calculation of the average

Bottom-up estimating: Estimating the costs or schedule of individual activities and extrapolating them to the project level.

Content of the video:
00:00 – Type of estimate
01:13 – Analogue estimation
04:15 – Parametric estimation
05:33 – Three-point estimate
08:10 – Bottom-up estimate

#AnalogEstimation
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#BottomUpEstimation

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