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This document provides guidelines for using parametric estimating methods to analyze risks and determine contingency for cost and schedule estimates. It discusses developing and calibrating parametric models based on historical project data to quantify systemic risks probabilistically. The parametric method is best for early estimates with limited scope definition but should be used alongside other methods as the project scope is defined and specific risks identified. The document provides practices for ris

Author

Juan Carlos Piñeiro

Language

EN