Question: Project managers utilize a number of cost-estimating methods. What cost-estimating tools should be utilized in an eCommerce project for a large animal hospital? What method

Project managers utilize a number of cost-estimating methods. What cost-estimating tools should be utilized in an eCommerce project for a large animal hospital?

  • What method of cost-estimating is appropriate?
  • How closely do they resemble the methods found in the PMBOK Guide? How effective are they?
  • What is a three-point estimate? What is the formula for the three-point estimate?
  • What is a parametric estimate and when is it used?
  • What is an analogous estimate? How is it different than a bottom-up estimate?

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