Cost Estimate Definitions - 3
Parametric or "top down" estimate
- Appraisal of costs of an item based on knowledge gathered from similar, but different projects
- Typically uses parameters such as number, weight, power, area and volume, lines-of-code, or other characteristics of the system to estimate or scale the cost of the item in question
- System complexity and team maturity are also influencing factors
- Often used as a result of or part of a feasibility study