The article presents multiple estimation techniques that Peter and the estimating group used. The methods are essential in determining the inputs of money, time and other resources into the project. Some of the methods applied are a three-point estimate and analogous estimation. The team expected the techniques to help in determining whether to bid or not to bid for an offer. The three-point methodology involves application determination of cost and duration of a venture (Billows, 2018). On the other hand, analogous estimation uses existing literature to evaluate the requirements of the current project.
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