Parametric estimating

Parametric estimating is like when you use a special formula to guess or estimate how long it will take to do something. Just like how your mom knows how long it takes her to cook your favorite dinner, people who use parametric estimating use a specific formula to guess how long it will take to do bigger things like building a house or making a new car.

This formula is like a special set of instructions that tells you how to figure out how much time, money, and resources you will need to finish a project. Imagine if your mom had a special recipe that told her exactly how long to boil the noodles, how much sauce to put in, and how many meatballs to make – that's kinda like using parametric estimating!

It's really important to use parametric estimating when you are doing big projects because it helps you plan ahead and prepare for all the things you will need. Just like how your mom needs to make sure she has all the ingredients in the house before she starts cooking dinner, people who use parametric estimating need to make sure they have all the materials and resources they need before they start building or creating something.

Overall, parametric estimating may sound complicated, but it's just a special way to estimate how long it will take to do something by using a formula or set of instructions. It helps people plan and prepare for big projects, just like how your mom plans and prepares for dinner!