- a mathematical models to develop cost estimation.
- developed for specific project parameters or characteristics.
- an estimation that can be simple or complex depending on the item being estimated. Most parametric models involve some kind of multiplier.
- considered to provide a rough order of magnitude or approximate level of accuracy.
Saturday, February 9, 2008
Parametric Cost Estimation in PMP
Parametric Cost Estimation is:
Suggested Study Materials
- PMP-Preparation Recommended Books
- PMP Exam Prep, Fifth Edition: Rita's Course in a Book for Passing the PMP Exam
- A Guide to the Project Management Body of Knowledge, Third Edition (PMBOK Guides)
- The PMP Exam: How to Pass On Your First Try (Test Prep series)