Project Management Professional (PMP) Exam Practice – Question1413 | Project Management Professional PMP Mock Exam Practice

You have now prepared your cost management plan so now you are preparing your project's cost estimate. You decided to use analogous estimating. Which of the following is NOT characteristic of analogous estimating?

A. Supports top-down estimating
B. Is a form of expert judgment
C. Has an accuracy rate of 10% of actual costs
D. Involves using the cost of a previous, similar project as the basis for estimating current project cost

Correct Answer: C

Explanation:

Explanation:
A frequently used method of estimate costs, the analogous technique relies on experience and knowledge gained to predict future events. This technique provides planners with some idea of the magnitude of project costs but generally not within10%.