1.
Apportionment method (Analogous Estimating):
Leverages historical data from similar past projects to estimate costs and durations for a new project.
Allocates percentages of the total planned budget or time to various project segments.
Most suitable for projects with minimal variation from previous ones.
Advantages: Quick, simple, and can be accurate for familiar projects.
Disadvantages: Relies on the quality of historical data, and may not be accurate for unique or innovative projects.
2. Bottom-up estimating:
Involves creating detailed estimates for individual tasks or work packages, then aggregating them to form the overall
project estimate.
Requires a thorough understanding of project scope and activities.
Often more accurate than top-down methods, but can be more time-consuming.
Advantages: Detailed and accurate estimates, potential for early identification of risks and issues.
Disadvantages: Time-consuming, potential for errors in individual estimates.
3. Delphi method:
Structured communication technique for forecasting and decision-making.
Involves gathering expert opinions through multiple rounds of anonymous surveys and controlled feedback.
Aims to reduce bias and leverage collective knowledge.
Advantages: Reduces groupthink, incorporates diverse perspectives, can be used for complex or uncertain problems.
Disadvantages: Time-consuming, requires skilled facilitation, potential for expert disagreement.
4. Function point:
Unit of measure for software size and complexity, based on functional requirements.
Commonly used for estimating software development effort and cost.
Calculated by considering factors like inputs, outputs, inquiries, logical files, and external interfaces.
Advantages: Objective measure of software size, can be used for benchmarking and productivity analysis.
Disadvantages: Requires trained personnel, may not fully capture non-functional requirements.
5. Reference class forecasting:
Technique for estimating project outcomes based on actual outcomes of similar, historical projects.
Adjusts for differences between the reference projects and the current project.
Aims to improve accuracy by considering historical trends and patterns.
Advantages: Uses real-world data, can be more accurate than other methods, can highlight potential risks.
Disadvantages: Relies on availability of relevant historical data, may not account for unique project characteristics.
6. Template method (Behavioral):
Design pattern in object-oriented programming that defines a skeleton of an algorithm in a method, deferring some steps
to subclasses.
Allows subclasses to redefine certain steps without changing the overall algorithm structure.
Promotes code reuse and flexibility.
7. White elephant:
Project that is expensive to maintain or operate, has limited usefulness, and often fails to meet its intended goals.
May become a financial burden or drain on resources.
Often results from poor planning, unrealistic expectations, or changing needs.
8. Phase estimating:
Technique for estimating large or complex projects by breaking them down into smaller phases or stages.
Estimates are developed for each phase, with revisions made as more information becomes available.
Improves accuracy and allows for adjustments as the project progresses.
Advantages: Adaptable to changing project needs, enables early identification of issues, improves cost control.
Disadvantages: Requires careful planning and coordination, potential for delays if estimates are inaccurate.
9. Learning curve:
Graphical representation of the relationship between experience and performance.
Shows how performance improves as individuals or teams gain experience.
Used in project management to estimate time and resources needed for tasks based on team experience.
Advantages: Accounts for productivity gains over time, can help optimize resource allocation.
Disadvantages: May not be accurate for tasks with high variability or for inexperienced teams.
10. Ratio method:
Estimating technique that uses ratios to extrapolate costs or durations from known values.
Often used for estimating indirect costs or costs that are difficult to measure directly.
For example, using the ratio of software developers to testers to estimate testing costs.
Advantages: Simple and quick to use, can be effective for certain types of costs.
Disadvantages: Relies on accurate ratio assumptions, may not be suitable for all project types.
