Question

If you are estimating costs based upon historical data from experience with a comparable project, you are using

A) Bottom-up estimating.
B) Expert judgment.
C) Analogous estimating.
D) Parametric estimating.

Answer 1

Analogous estimating is used to estimate costs based on historical data from a comparable project.

Step-by-step explanation:

When estimating costs based on historical data from a comparable project, you are using analogous estimating. This method involves using past experience to make informed estimates for the current project. By comparing the similarities and differences between the two projects, you can estimate the costs more accurately. For example, if you previously built a similar house, you can use the cost data from that project to estimate the costs for the new house.