What are the differences between bottom-up and top-down estimating approaches? Determine advantages and disadvantages for using each...

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General Management

What are the differences between bottom-up and top-downestimating approaches? Determine advantages and disadvantages forusing each approach. Under what conditions would you prefer oneover the other? Provide a specific example to support yourresponse.

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In bottomup estimation project managers tally their costs upward starting at the bottom and accounting for each expected cost In sum the total costs should equal the finished project Its a basic method of estimating but the benefit is that its the most accurate means of estimating a projects total cost Accuracy is achieved just through the process of starting at the very foundation of a project and working your way up through each cost on the project work breakdown structure In top down estimationit starts with identifying every major aspect to the project In home technology installations you will typically start with the components and features of the job Then you will create different labor categories that apply to each task The cost of the See Answer

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What are the differences between bottom-up and top-down estimating approaches? Determine advantages and disadvantages for using each...

70.2K

Verified Solution

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General Management

What are the differences between bottom-up and top-downestimating approaches? Determine advantages and disadvantages forusing each approach. Under what conditions would you prefer oneover the other? Provide a specific example to support yourresponse.

Answer & Explanation Solved by verified expert

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