Analogous estimating is a technique used in project management to estimate the duration or cost of a project based on the data from similar projects. It is also known as top-down estimating, because it uses high-level information from previous projects to make an estimate for the current project. This type of estimation is often used when there is limited information available about the current project.
Analogous estimating works by taking data from similar projects and using it to make an estimate for the current project. The data can include things like duration, cost, resources, and other factors that are relevant to the project. The estimator will look at the data from previous projects and use it to make an educated guess about how long or how much the current project will take or cost.
Analogous estimating has several advantages. It is relatively quick and easy to do, since it relies on existing data rather than having to collect new information. It also provides a good starting point for making more detailed estimates later on in the project. However, there are some drawbacks to this method as well. Since it relies on existing data, it may not be accurate if the current project is significantly different from past projects.