A technique used to estimate a particular cost or price by using an established relationship with an independent variable.

See also Parametric Estimating.

(Wideman Comparative Glossary of Common Project Management Terms v2.1)

Other Definitions

Cost Estimating Relationship (CER) – CERs are mathematical expressions of varying degrees of complexity expressing cost as a function of one or more cost-driving variables. The relationship may utilize cost-to-cost variables, such as manufacturing hours to quality assurance hours, or cost-to-noncost variables, such as engineering hours to the number of engineering drawings. (NHYSoft.com)

J. Jerrald Hayes
I am ex-architectural woodworker and general contractor turned IT, Business and Project Management consultant, software developer wannabe senior division triathlete and ski racer, Yankee fan and founder of Paradigm-360.com, 360 Difference Mac4Construction.com,iOS4Construction.com and now TheBuildingAndRemodelingWiki.com too.
Share This