Analogous Estimating

Analogous estimating is a project cost and time estimation technique that uses historical data from similar past projects to predict the current project's requirements. By comparing the current project with a past one that’s comparable in scope and complexity, you can estimate costs or durations more quickly and efficiently. It relies on expert judgment and previous experience rather than detailed analysis, making it useful in early planning stages. While it may be less precise than other methods, it provides a practical, high-level estimate to guide decision-making and preliminary planning.