Analogous estimation or top down estimation uses the parameters from a previous similar project that is very important that is the semantic similarity is not good enough your estimation will be wrong I would say through expert judgment, we try to create an analogy between our current project and the previous project or part of the project or in terms of activities. When estimation duration these techniques rely on actual previous similar project experience. So, this is one of the basis of estimate that the minister has done this job before and he has this kind of an experience. So, your your relationship the analogy the size and the complexity needs to be very similar in nature. Otherwise, this you could have a wrong estimation you may have a biased estimation that yes, this job looks like it No need the similarity needs to be a little more more analog especially an analogous estimation is generally less costly and less time consuming than other technique, but obviously, it is less accurate you are not going into the details of this and you are not identifying the risk in terms of that specific activity that you are going to do what you are actually looking at is that yes I have done this kind of an activity before to how it was going to help me how it is going to relate to the soap this this kind of estimation you usually do when you are in the beginning of the project and another duration can be applied to a total project or a segment of a project and may be used in conjunction with other estimating it is reliable when historical information used to develop model is accurate the analogy is strong, the expert judgment is stronger than the other the parameters are same, they are not just likely they are mostly the same as activity that you are more models are scalable said that well for the large projects small project interfaces are good Reliable in this key if source of activity duration estimates the project team member.

So, you need to be you have to make sure that whoever is giving you this estimation, you have to use that person has delivered that project before or at least when you are talking about commercial databases. If you are talking about Mandela this estimation, you need to make sure that the this cycle is also good. So, another is frequently used to estimate project duration when there is a limited amount of information you don't know how the five star hotel is going to look like you don't know what are the information that you will be doing? What is the complexity? And you don't know if we are starting a manufacturing concern that how much time we need to deliver it. But yes, I have given you a overall objective that what am I looking at?

And you say yes, this project will take five to 10 months, 12 months, but this kind of estimation is plus minus 50%. It's rough order of magnitude, we anything could go could go anything can happen, because when you go into the details of this estimation, you will realize that kind of a difference is that you may have the kind of a risk that you may have the kind of the difference of nature in the estimate in the activity that you may have. It's a cross value estimation approach some time adjusted for known differences in the project complexity is a top down approach it is used early in the project at a very high level, similar previous project needs to identify determined aspects of the project that are going to be affected compare those drivers and then estimate the current and keeping mind is a unique project.

Some of the component review the accuracy it is the most basic and easy and most frequently used form of estimation. What does that how much time you are going to take this five days still, I don't know the competency I don't know that kind of a data that I'm gonna get. I don't know the the key cleansing of the data I need to do, I don't know this all these things is unknown to me. But yes, I know that if you ask me to deliver a job, this is the kind of time that I would take. But this is completely dependent on the constraints and the assumptions and the areas which are beyond my control, data cleansing, data availability, production availability, all these things will have an impact when we go into the detail in scan very highly dependent on historical information. And these are the three areas estimate activity duration, estimate cost and estimate activity resources are the 3pm book processes, where this analogous estimation will be used.

Again, this is top down quick, easy, less costly, but obviously, most they are unrealistic and unreliable. and discover, not say I should not say unrealistic, unreliable Wouldn't this key is other two parameters for the analogous or top down approach. Thank you very much. Let's see you in the next session.