A software costing method that uses a team of experts working both independently and together to combine different approaches and arrive at a collective judgment through consensus is an example of the _________ costing method.

A software costing method that uses a team of experts working both independently and together to combine different approaches and arrive at a collective judgment through consensus is an example of the _________ costing method.

• A. Analogous
• B. Bottom-Up
• C. Delphi
• D. Parametric

Answer: (C)

This question tests understanding of cost estimation methods that rely on expert judgment and consensus rather than purely data-driven models. The Delphi method fits because it uses a panel of experts who estimate independently, then share their estimates and the reasoning behind them, receive anonymized feedback, and revise their opinions through multiple rounds. Over successive rounds, the group’s estimates converge toward a collective judgment through consensus, blending different approaches and expert perspectives. This combination of independent input and iterative, consensus-building rounds is the defining feature of the Delphi approach. Other methods differ in how they derive estimates: Analogous costing relies on similarities to past projects; Bottom-Up builds estimates from detailed work package data; Parametric uses cost drivers and mathematical relationships. None emphasize the structured rounds and consensus process that characterize Delphi.

This question tests understanding of cost estimation methods that rely on expert judgment and consensus rather than purely data-driven models. The Delphi method fits because it uses a panel of experts who estimate independently, then share their estimates and the reasoning behind them, receive anonymized feedback, and revise their opinions through multiple rounds. Over successive rounds, the group’s estimates converge toward a collective judgment through consensus, blending different approaches and expert perspectives. This combination of independent input and iterative, consensus-building rounds is the defining feature of the Delphi approach.

Other methods differ in how they derive estimates: Analogous costing relies on similarities to past projects; Bottom-Up builds estimates from detailed work package data; Parametric uses cost drivers and mathematical relationships. None emphasize the structured rounds and consensus process that characterize Delphi.