Discuss two types of estimation techniques

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Discuss two types of Estimation techniques.To estimate costs associated with a project, there are two type of estimation techniques oftenused: The top-down: approach is a great option for those project managers with plenty of experience.This approach is more likely used in project bidding, strategic planning or predetermined budgetlimits. Top-down is analogous, using ballpark figures from similar projects without breakingdown each task(Roseke, 2018).Bottom-up: analyses each task, slowly rolling up all tasks into one larger estimate. The bottom-up approach is more accurate and used commonly among project managers. Estimations areproject dependent, and the technique will be a case-by-case determination. In other words, thebottom-up approach is the opposite idea to the top-down approach (Roseke, 2018).

Reference no: EM133739852

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