Estimating factor
A typical estimating formula uses several factors to calculate
the predicted number of hours required to complete a particular task.
The person using the estimation feature will be prompted to select
a prepared estimating formula and then input all factors used by that
formula. These factors can be adjusted later as the project proceeds.
An estimating factor is a parameter that is used in an estimating formula to calculate the estimated effort for a task or work breakdown element.
Estimating factors used in Engineering Method Composer are:
- Name
- The name of the estimating factor.
- Count
- The number of occurrences of the estimating factor to be used in an estimate.
- Low estimate (in hours)
- A low estimate for the number of hours effort for one occurrence of the estimating factor.
- High estimate (in hours)
- A high estimate for the number of hours effort for one occurrence of the estimating factor.
- Most likely estimate (in hours)
- The most likely number of hours effort for one occurrence of the estimating factor.
These default values can be overridden everywhere that the estimating factor is applied. The values provide a starting value that can be used unchanged, if appropriate.