Running head: PROJECT MANAGEMENT.1PROJECT MANAGEMENT.Institutional affiliation:Date:PROJECT MANAGEMENT.2Expert judgmentThis is the judgment made in accordance with the instructions given by the experts in thegiven field. During the carrying out of a project, expert judgment can be given by a member ormembers of the team. It is sometimes acquired from an external source when none of the projectteam members have the expertise that is required. These external sources are alwaysprofessionals and charge a consultation fee. It can also be the end consumer who has theexpertise and can, therefore, enlighten the project manager or members n what to follow and thecaution they should take. Stakeholders could be experts too giving the reason why they believedand invested in the project. These stakeholders can be consulted too. Such consultations arealmost always free of charge because they are members of the project team. (ProjectManagement Institute. (1987).Analogous estimatingThis is a technique that is used on different parameters in the project. These parametersinclude; the cost of the project, budget, scope, and the estimated project completion period. Thetechnique can be used to determine the size, how complex the parameter is and the weight of theparameter in the project. Analogous estimating is employed when it is limited or unavailabilityof the parameter in question. It is done by comparing a similar activity that was done on asmaller scale th ...
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