Using BottomUp Estimating

Every time I mention bottom-up estimating in one of my seminars, someone snickers and pantomimes drinking a shot of booze. Ha-ha.

Bottom-up estimating is the most accurate time and cost estimating approach a project manager can use. This estimating approach starts at "the bottom" of the project and considers every activity, its predecessor and successor activities, and the exact amount of resources needed to complete each activity. Bottom-up estimating accounts for all of the resources needed to complete all of the project work. While it is the most accurate estimating approach, it is also the most time-consuming.

EXAM TIP You'll see bottom-up estimating again in Chapter 7, which examines cost estimating. In order to complete bottom-up estimating, especially for costs, a WBS must be present. Bottom-up estimating for costs is also known as creating the definitive estimate.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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