Analogous Estimating in Project Management

Analog estimation, by far one of the simplest project management method, works by comparing your current project to those you’ve previously completed, outlining the differences and similarities found. Very easy to do.

As we know, the main characteristic of projects is being temporary efforts and being progressively elaborated. Since it's difficult to have detailed information in the beginning of a project, estimates may have a wider margin of error at that time. In the end of the project, more detailed data means more accuracy.

One of the reasons for this struggle at the early stages and the proximity of estimations later may be the increase in the achievability of data that will be the basis for estimates as the project progresses, the disappearance of uncertainties, as well as the specific constraints of the project. Analogous estimating is usually used in the early stages of the project to obtain non-detailed approximate estimates about resource management, cost management, or schedule management domains by estimating the duration of the project activities. In the absence of sufficient data, a prediction from the results of a similar project can be quite valuable. Analogous estimating is categorized as estimating methods that are recommended to be used in planning performance domain.

The processes in which the analog estimation technique is used as a tool and technique are as follows.

The other commonly used estimating methods are;
  • Affinity grouping
  • Function points
  • Multipoint estimating
  • Parametric estimating
  • Relative estimating
  • Single-point estimating
  • Story point estimation
  • Wideband Delphi