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7 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Top-down |
examining the components at a high level in a hierarchicalbreakdown. |
Estimation |
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Bottom-up |
using the lowest-level elements of a hierarchical breakdown toexamine the work in detail and estimate the individual cost or effort, andthen summing across all elements to provide an overall estimate. |
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Parametric Estimation |
use of a calibrated parametric model of theelement attributes being estimated. It is important that the organizationuses its own history to calibrate any parametric model, since the attributevalues reflect the skills and abilities of both its staff and the processes usedto do work. |
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Rough Order of Magnitude (ROM) |
Rough Order of Magnitude (ROM): |
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Rolling Wave: |
repeated estimates throughout an initiative or project,providing detailed estimates for near-term activities (such as an iteration ofthe work) extrapolated for the remainder of the initiative or project. |
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Delphi |
uses a combination of expert judgment and history. There areseveral variations on this process, but they all include individual estimates,sharing the estimates with experts, and having several rounds of estimationuntil consensus is reached. An average of the three estimates is used. |
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PERT |
each component of the estimate is given three values: (1) Optimisticvalue, representing the best-case scenario, (2) Pessimistic value,representing the worst-case scenario, (3) Most Likely value. Then a PERTvalue for each estimated component is computed as a weighted average:(Optimistic + Pessimistic + (4 times Most Likely))/6. |
(Optimistic + Pessimistic + (4 times Most Likely))/6. |
