Standard Project Estimating


Standard Project Estimating

Estimating Method

Generic Type

WBS Relationship

Accuracy

Time to prepare

Parametric

Rough Order of Magnitude (ROM)

Top Down

-25% to +75%

Days

Analogy

Budget

Top Down

-10% to +25%

Weeks

Engineering (grass roots)

Definitive

Bottom up

-5% to +10%

Months

Source: Project Management: A Systems Approach to Planning, Scheduling and Controlling by Harold R. Kerzner (11th edition).

English: Project development stages

English: Project development stages (Photo credit: Wikipedia)

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