The following data for a certain type of civil engineering s

The following data, for a certain type of civil engineering system, shows the variation of the project size (using cost as a size surrogate, in millions of dollars) to the duration of the contracts. Identify three functional forms that provide a close fit to the data.

2. The following data, for a certain type of civil engineering system, shows the variation of the project size (using cost as a size surrogate, in millions of dollars) to the duration of the contracts. Identify three functional forms that provide a close fit to the data. Project size, $millions 1.9 4.2 5.8 7.8 10.1 12.0 13.8 15.6 17.7 19.5 Contract duration, months 0.6 1 4 2.9 4.9 7.5 8.9 9.18.9 9.0

Solution

• Expert judgement of project is necessary who are familiar with the work

• Analogous estimating is required. It is when you look at similar activities from previous projects and how long they took.

•Parametric estimating means plugging data about your project into a formula, spreadsheet, database, or computer program that comes up with an estimate. The software or formula that you use for parametric estimating is based on the database of actual durations from past projects.

•Reserve analysis means adding extra time to the schedule to account for extra risk