examples of analogous estimating

What are some examples of analogous estimating in project management?

In project management, accurate estimations are crucial for planning, allocating resources, and delivering successful outcomes. Among various estimation techniques, analogous estimating stands out as a quick, accessible method that leverages historical data to predict the cost, time, or effort required for a new project. While it may not provide the precision of more granular methods, analogous estimating remains a valuable tool for project managers when detailed information about a project is scarce.… [ Read the rest...]

Story Points vs. Man-Hours For Project Estimation

When a new project is about to start, the project sponsors definitely want to know how much time it will take to complete it. If, on the contrary, you’re already involved in an ongoing project, project stakeholders probably are eager to know what amount of work you as a team will be able to complete during each subsequent iteration. We usually use different estimation techniques to provide the mentioned information to the project sponsor or stakeholders in both cases.… [ Read the rest...]