May 2020
Intermediate to advanced
542 pages
18h 28m
English
Content preview from CCBA® and CBAP® Certifications Study Guide
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Key things to know when using this technique
Estimation is about considering the available information and making a judgment that most often relates to the costs, expected benefits, or value in a different form. It can be presented as a single number but is often shown as a minimum and maximum value. The range of values between the minimum and maximum values is referred to as the confidence interval.
The more information that is available to the estimator, the smaller the confidence interval (and the higher its percentage) and the more accurate the estimation.
There are many different methods for estimation, which include top-down, bottom-up, and parametric estimation; along with Rough Order of Magnitude (ROM), rolling wave, PERT, and Delphi. ...
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