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)
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