When should I use analogous estimating in project management?
An example of an AI chatbot conversation about when to use analogous estimating in project management.
When should I use analogous estimating in project management?
Analogous estimating is best used when you have historical data from similar projects. It helps in quick estimations.
Can you give me an example of when it would be appropriate?
Sure! If you're starting a new software project similar to one you've completed before, you can use the previous project's costs as a reference.
What are the advantages of using this method?
The main advantages are speed and ease of use, especially when detailed data is not available.
Are there any limitations I should be aware of?
Yes, it can be less accurate if the projects are not truly similar or if the historical data is outdated.
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