BottomUp Estimating

I discussed this technique in Chapter 4, but there are a few pointers to consider for this process. This technique estimates costs associated with every activity individually and then rolls them up to derive a total project cost estimate. You wouldn't choose this technique to provide a cost estimate for the project during Initiating if one were requested because you don't have enough information at that stage to use it. Instead, use the top-down estimating technique (analogous estimating) when a project cost estimate is needed early in the project selection stage. Bottom-up estimating will generally provide you with the most accurate cost estimates, but it is the most time-consuming estimating technique of all those mentioned here. However, the size and complexity of the project impact the accuracy you can achieve using this technique.

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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