What type of estimate is based on the cost of performing similar work in the past, adjusted for current job conditions?
What type of estimate is based on the cost of performing similar work in the past, adjusted for current job conditions?
An analogous estimate is based on the cost of performing similar work in the past, adjusted for current job conditions. This method leverages historical data from previous projects and applies them to the current project, modifying for differences in project scope, scale, and other relevant conditions.
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