CAPM (Certified Associate in Project Management) Practice Exam

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Study for the Certified Associate in Project Management Exam with practice questions and answers. Enhance your understanding of project management principles and strategies to excel in the exam!

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What tool or technique involves using historical data from similar projects for estimating?

Expert judgment
Analogous estimating
Group decision making techniques
Resource breakdown analysis

The correct answer is: Analogous estimating

Analogous estimating is a technique that involves using historical data from similar projects to estimate the duration and cost of a new project. This approach is based on the assumption that past projects with similar scope, resources, and constraints will have similar durations and costs. This method is useful when there is limited information available for the current project and can provide a quick and reliable estimate. Expert judgment (A) relies on the opinions and expertise of individuals and may not use historical data. Group decision making techniques (C) involve a team approach to decision making and may not necessarily use historical data for estimating. Resource breakdown analysis (D) is a tool used to identify and organize project resources, but it does not involve using historical data for estimation. Therefore, the correct option is B.