Estimating using an algorithm in which parameters that represent different attributes of the project are used to calculate project effort, cost, and/or duration. Parametric estimating is usually used in top-down Estimating.(AllPM.com)

Other Definitions

Parametric Estimating – An estimating technique that uses a statistical relationship between historical data and other variables (e.g., square footage in construction, lines of code in software development) to calculate an estimate .
(Wideman Comparative Glossary of Common Project Management Terms v2.1)

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.
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