Answer to Question #226720 in Algorithms for kkk

Question

Question 1:

Distinguish between analogue and parametric estimation in cost management

Question 2:

Examine the importance of quality auditing in project management.

Answer 1

Solution 1:

Analogous estimating uses an “analogy” – comparing a past similar project to your current project.

Parametric is more accurate, specifically when the underlying data is scalable. Parametric uses a relationship between variables (a unit cost/duration and the number of units) to develop the estimate.

Solution 2:

Quality auditing is the systematic examination of an organization’s quality management system (QMS). A quality audit is typically carried out by an internal or external quality auditor or audit team