Hello everyone! Here is this week's free PMP® exam sample question from the PM Exam Simulator.

You are the project manager at a dress manufacturing company. You have been asked to estimate the duration of a project that requires you to produce 500 shirts. Based on a previous similar project, you assume that since the time required by a person to produce a shirt was 8 hours, total effort required for this project would be 4000 hours. Which estimation technique are you using here?

A. Analogous
B. Bottom up
C. Three point
D. Parametric

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HINT: This technique involves statistical relationships with historical data from similar projects.

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Answer and Explanation:
The correct answer is D.

Parametric estimating uses statistical relationship between historical data on similar projects and other variables to calculate a cost estimate for a schedule activity resource.