Four Types of Estimation Techniques - PMP Exam Tips

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There are 4 ways to estimate your cost and schedule for your project that you'll need to know for your PMP exam.

Analogous estimation: looking at historical data

Parametric estimation: looking at statistical data to obtain estimates for your current project

Three point estimation: determining 3 points of estimation (optimistic, most likely and pessimistic) and taking the average

Bottom up estimation: estimating the cost or timeline of individual activities and rolling it up to the project level.

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