Analogous estimating is a project management technique used to estimate the duration or cost of a project based on the metrics of similar past projects. This method relies on historical data and expert judgment to draw comparisons, making it quicker and often less expensive than more detailed estimating techniques. This approach is particularly useful in the early stages of project planning when detailed information may not be available. By using the experiences from previous projects, managers can create a rough estimate that helps in decision-making and resource allocation, ultimately guiding the project toward successful completion.