Jason, a project manager, is working with his team to estimate the total cost of developing a web-based CRM system. After reviewing the planned scope of work with Jason, his sponsor suggests that Jason use the budget from a previous, similar project as the basis for his project budget. The estimating process that Jason’s sponsor is using is called _____________.

a. three-point estimating

b. parametric estimating

c. analogous estimating

d. single-point estimating