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Which statement is FALSE about analogous estimating?
Analogous estimating uses a bottom-up approach.
Analogous estimating is usually performed during the early phase of the project when not much information is available.
Analogous estimating is the overall project estimate given to the project manager from the sponsor or management.
Analogous estimating measures project parameters such as budget, duration, size and complexity based on the parameters of a previous similar project and historical information.