Section: Volume C

Section: Volume E
Explanation:
7.2.2.2 Analogous Estimating
Analogous cost estimating uses the values such as scope, cost, budget, and duration or measures of scale such as size, weight, and complexity from a previous, similar project as the basis for estimating the same parameter or measurement for a current project. When estimating costs, this technique relies on the actual cost of previous, similar projects as the basis for estimating the cost of the current project. It is a gross value estimating approach, sometimes adjusted for known differences in project complexity.
Analogous cost estimating is frequently used to estimate a value when there is a limited amount of detailed information about the project, for example, in the early phases of a project. Analogous cost estimating uses historical information and expert judgment

Section: Volume C
Explanation:
11.1.3.1 Risk Management Plan
The risk management plan is a component of the project management plan and describes how risk management activities will be structured and performed. The risk management plan includes the following:
Methodology. Defines the approaches, tools, and data sources that will be used to perform risk

management on the project.
Roles and responsibilities. Defines the lead, support, and risk management team members for each type

of activity in the risk management plan, and clarifies their responsibilities.
Budgeting. Estimates funds needed, based on assigned resources, for inclusion in the cost baseline and

establishes protocols for application of contingency and management reserves.
Timing. Defines when and how often the risk management processes will be performed throughout the

project life cycle, establishes protocols for application of schedule contingency reserves, and establishes risk management activities for inclusion in the project schedule.