[Technique]
An estimatingThe use of arrange of tools and techniques to produce estima... More techniqueA defined systematic procedure employed by a human resource ... More that uses a statistical relationshipA logical connection between two activities. More between historical data and other variables (e.g., square footage in construction, lines of code in software development) to calculate an estimate[Output/Input]
A quantitative assessment of the likely am... More for activityA component of work performed during the course of a project... More parameters, such as scopeThe sum of the products, services, and results to be provide... More, cost, budgetA budget represents the (time-phased) cost performance targe... More, and durationAlso DU or DUR. The total number of work periods (not includ... More. An example for the cost parameter is multiplying the planned quantity of workThe total number of hours, people or effort required to comp... More to be performed by the historical cost per unit to obtain the estimated cost.
