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PARAMETRIC ESTIMATING: AN EQUATION FOR ESTIMATING BUILDINGS DTC UV 2 5 1988 A Special Research Problem presented To The Faculty of The School of Civil Engineering by Robert J. Garrity In Partial
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How to fill out parametric estimating

01
Step 1: Begin by gathering all necessary data and information related to the project you are estimating.
02
Step 2: Identify the parameters that will be used for estimating, such as project size, complexity, and historical data.
03
Step 3: Analyze the historical data to understand the relationship between parameters and project outcomes.
04
Step 4: Develop a mathematical model or algorithm that can be used to estimate project costs, durations, or other relevant metrics.
05
Step 5: Apply the model to the gathered data by inputting the specific project parameters and obtaining an estimation.
06
Step 6: Review and validate the estimation results by comparing them to historical data, expert opinions, or other estimation techniques.
07
Step 7: Adjust the estimation if necessary based on the review and validation process.
08
Step 8: Document the estimation process and results for future reference and transparency.
09
Step 9: Communicate the estimation to relevant stakeholders and utilize the information for decision-making and planning.

Who needs parametric estimating?

01
Project managers: Parametric estimating can help project managers make informed decisions regarding resource allocation, budgeting, and scheduling.
02
Estimators: Estimators can utilize parametric estimating to provide accurate and reliable cost and time estimates for potential projects.
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Businesses: Parametric estimating can be beneficial for businesses looking to assess the feasibility and potential outcomes of different projects before making investment decisions.
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Government agencies: Parametric estimating can assist government agencies in estimating the costs and impacts of public projects and initiatives.
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Engineering and construction professionals: Parametric estimating can be valuable for professionals involved in engineering and construction projects, enabling them to assess project feasibility and manage resources effectively.
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Parametric estimating is a technique that uses statistical relationships between historical data and other variables to calculate an estimate for a project.
Project managers and cost estimators are typically required to file parametric estimating for projects.
Parametric estimating is filled out by using historical data, adjusting for project-specific factors, and applying statistical analysis to generate cost estimates.
The purpose of parametric estimating is to provide accurate and reliable cost estimates for projects based on historical data and statistical analysis.
Parametric estimating should include details on the project scope, historical data used, adjustments made, and the final cost estimate.
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