What is parametric estimation?

Parametric estimation is a method of estimating the time, cost, or resources of a project based on mathematical models and parameters that describe the project or its parts. Instead of detailed analysis of each task, general parameters (such as the number of lines of code, number of functions, building area) and predefined coefficients are used for the estimate.

Example: if it is known that developing 1000 lines of code takes an average of 2 weeks, then for 3000 lines, the time can be estimated as 6 weeks (3000 / 1000 * 2). This approach allows for a quick approximate estimate in the early stages of planning.