Saturday, February 9, 2008

Parametric Cost Estimation in PMP

Parametric Cost Estimation is:
  • 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.

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Recommended Books on PMP

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)