How can we improve the quality of our estimates?
Price, a parametric cost estimation method

The parametric method is just one way of estimating costs.

The estimating methods tool (Tool 1 ) shows the various cost estimation methods available for use in a project.

Depending on the phase of the project, one method is preferable to another, and provides a degree of accuracy in the cost estimate, as shown in the tool Positioning estimating methods and their associated degree of accuracy (Tool