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Incorrect cost estimates can negatively impact project schedules. Consequently, it is critical to have an effective estimating...

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General Management

Incorrect cost estimates can negatively impact projectschedules. Consequently, it is critical to have an effectiveestimating process, which can vary by project. For this discussion,post the following:

  • Provide a brief project scenario (describe the purpose of theproject) and use Bottom-Up Estimation approach. Be sure to cite thesource of the estimation approach in your post.
  • Provide reasons for why the Bottom-Up Estimation approach isappropriate for the given situation.

Answer & Explanation Solved by verified expert
4.4 Ratings (805 Votes)
Evaluation is an important part of project planning especially for scheduling and project costs There are several assessment techniques including bottomup evaluation Learn about bottomup assessments and their advantages and disadvantages Lance is a construction project manager who needs to change his approach to evaluation He usually does not spend much time evaluating confident in using his experience with similar projects as a guide However the last few projects he worked on exceeded expectations so he decided it was worth the effort to be more accurate He decides to try to evaluate bottomup    See Answer
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