Parametric Estimating

last edited by: Aatif Gul on Mar 2, 2018 4:33 PM login/register to edit this page

Contents
1 Overview
2 Application
3 Visual presentation, Example
4 Other Estimating Techniques
5 References

Overview

Parametric Estimation as the name suggests is based on parameters, a number of units you need to do. In many cases based on industry published tables, then adjusted by region and season. Some large organizations have built detailed historical data that can be used.

Application

This kind of estimating can be done in most industries, provided there is a published standard or the organization have made it's own database.

Visual presentation, Example

You need to install fiber optic cable on a stretch of 10 kilometers, most of it on existing wood post (9 kilometres) and a transition to some existing underground conduits (1 kilometre).

So you have three sections

9 kilometers on wood post 1 transition from wood post to underground conduits 1 kilometer of underground conduits

And you have A, B and C the effort required for each type of installation extracted from the industry estimating publication.

9 x A + 1 x B + 1 x C = total time required

The same will be done for required materials to complete the estimate. You might need to add set-up time (available in the publication), transport and other costs to have a full estimate.

Other Estimating Techniques

  • 3-points estimate: Beta distribution, Triangular distribution, PERT
  • Analogous estimates
  • Bottom-Up estimates
  • Descending estimate or Up-Bottom

References


last edited by: Aatif Gul on Mar 2, 2018 4:33 PM login/register to edit this page


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