Analogous Estimating

Correct Answer: 3 weeks

This question is based on the concept of 'Analogous Estimating', where the duration of a task is estimated based on the duration it took in past similar experiences or projects. Here, it's noted two developers completed a project in six weeks. Now, this project has double the number of developers (four), who, assuming equal efficiency, will presumably complete a similar task in half the time. That would equate to three weeks, not four weeks (not proportional increase), not six weeks (same team size), and certainly not ten weeks (it would mean decreased efficiency). Hence, '3 weeks' is the correct answer.

Correct Answer: Estimate 7.2 months and $600,000, adjusting for the 20% increase in complexity

The best approach for Analogous Estimating in this scenario is to estimate 7.2 months and $600,000, adjusting for the 20% increase in complexity. Here's why:

1. Analogous Estimating uses similar past projects as a basis for estimation.
2. The previous project took 6 months and cost $500,000.
3. The new project has additional features, increasing complexity by 20%.
4. To account for this, we adjust both time and cost by 20%:
- Time: 6 months * 1.20 = 7.2 months
- Cost: $500,000 * 1.20 = $600,000

This method takes into account both the similarity to the previous project and the additional complexity of the new features.

The other options are less appropriate:

Estimating 6 months and $500,000 fails to account for the increased complexity.

Adjusting only the timeline (7.2 months and $500,000) neglects the likely increase in cost due to added features.

Estimating 8 months and $650,000 adds an arbitrary buffer, which is not part of the Analogous Estimating technique. While buffers can be useful, they should be applied separately from the initial estimate.

Correct Answer: Historical data regression analysis

Analogous estimating is a technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project. So, 'Historical data regression analysis' would be the most appropriate method to get the best estimate for a software upgrade project in this case, because you have information on previous upgrades and their associated costs. You can analyze this historical data using regression analysis to identify patterns and trends, which can help estimate the cost of the next upgrade project. 'Bottom-up estimating' would not be the correct method as it is a method of estimating project durations by estimating the durations of the individual activities and summing them up. 'Three-point estimating' is a technique that uses three scenarios to estimate a realistic cost or duration for a given activity, it wouldn't fit in the scenario given. Lastly, 'Parametric estimating' is not the correct method too. Parametric estimating uses statistical modeling to develop a cost estimate. It uses historical data and other variables to calculate an estimate. However, the scenario outlined requires a technique that thoroughly examines historical data, which aligns better with regression analysis.