PMI Scheduling Professional Certification (PMI-SP) Practice Exam

Analogous estimating is a method that leverages historical data from previous projects to make estimates about the duration, cost, or other parameters of a current project. This technique is particularly useful in the early phases of project planning when detailed information may not yet be available. By using past projects as a reference, project managers can draw on experiences and data that reflect similar circumstances, which can lead to more informed and accurate estimates.

This approach benefits from the lessons learned and performance outcomes of similar past projects, allowing for a quicker estimation process compared to more intricate techniques that require detailed analysis or extensive data gathering on the current project. Given that analogous estimating is rooted in historical performance, it helps organizations to account for factors that may influence scheduling and resources based on similar project contexts.

While expert opinions can play a role in refining estimates, analogous estimating specifically relies on empirical data rather than solely on qualitative judgments. Similarly, this method does not strictly process information about current resources, nor is it a decision-making process in isolation; rather, it's a practical way to leverage historical insights to forecast project needs.