Project Estimation Methods in Prehistoric World

Project Estimation Methods with Examples from Prehistoric People — Illustrated by actiTIME
Illustrated by actiTIME

Expert judgment

This estimation method is based on expertise and opinions of experienced specialists, not necessarily from the project team. The judgment is based on theoretical approaches, existing practical knowledge, a set of criteria, or a summary of previous experience.

Expert judgment estimation method — Illustrated by actiTIME
Illustrated by actiTIME

Comparative/analogous estimation

Comparative method consists in using the experience from previous similar projects to analyze work scope, forecast possible risks, and estimate delivery timelines. Whether the previous project was a success or a failure, it can provide decision makers with relevant data for estimation and important insights.

Comparative/analogous estimation method — Illustrated by actiTIME
Illustrated by actiTIME

Top-down estimation

This type of estimation works as a quick method for providing ballpark estimates for prospective projects and assessing whether they are viable. In it, a high-level breakdown of project steps is used. Later, more specifics can be added to the rough estimate.

Top-down estimation method — Illustrated by actiTIME
Illustrated by actiTIME

Bottom-up estimation

As opposed to the previous method, bottom-up estimation implies a detailed breakdown of project tasks and estimating each of them separately. The next step is usually calculating the totals at higher levels and seeing the big picture. This method allows managers to obtain more accurate results than the previous one.

Bottom-up estimation method — Illustrated by actiTIME
Illustrated by actiTIME

Parametric model estimating

In this method, measurable variables are used to forecast and estimate upcoming work. Parametric model method is a more scientific technique and it ensures maximum accuracy of the results. With special tools, it’s possible to automate calculation and estimation process.

Parametric model estimating method — Illustrated by actiTIME
Illustrated by actiTIME

Three-point estimation

In this method, a mathematical approach is used. It is based on producing the weighted average of three estimates: optimistic, most likely, and pessimistic estimates. This method allows automation and is quick, but it requires significant amounts of data and detail levels.

Three-point estimation method — Illustrated by actiTIME
Illustrated by actiTIME

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