In project management, estimating strategies are used to determine how much work, time, and resources will be needed to finish a task. Here are a few typical estimation methods: 1. Expert Judgement: This tactic entails speaking with professionals or individuals with relevant experience to gain their assessment of the task's timeframe, expense, and effort. Pros: If the expert has appropriate experience, it is quick, simple, and potentially quite accurate. Cons: It is subjective and prone to bias or personal opinion on the part of the expert. 2. Analogous Estimating: This method bases an estimate of a parameter or measure for a future project on the actual cost, timeframe, or effort of an earlier, comparable project. Pros: When historical data is available, application is swift and comparatively simple. Cons : The assumption that prior projects are a good indicator of future initiatives makes it less accurate. 3. Parametric Estimating: This method makes predictions by using statistical modelling. It entails calculating the cost or duration per unit and the necessary number of units for the project. Advantages: Especially for bigger projects, it's frequently more accurate than expert judgement or comparable estimation. Cons: The model needs to be trustworthy and thorough correct data