Project Management Accurate Estimates Are Term Paper

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These estimates are often quite rough, but they are easier to obtain.

The conditions under which I would prefer bottom-up are situations with high risk or high cost. In these situations, it is imperative that the cost estimates produced are of the highest possible standard. I would also prefer the bottom-up approach for projects that are totally unique in the company's history. Without any basis for an estimate from management, it would be best to break the project down into component parts, not just to gain an estimate but to gain a sense of what difficulties might arise during the project's lifespan.

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I would prefer the top-down method for relatively routine projects, in particular those with low risk or low cost. The estimates for these projects need not be accurate, and therefore the cost of producing the estimate should kept as low as possible while maintaining some semblance of accuracy......

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"Project Management Accurate Estimates Are" (2008, May 26) Retrieved May 13, 2024, from
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"Project Management Accurate Estimates Are", 26 May 2008, Accessed.13 May. 2024,
https://www.aceyourpaper.com/essays/project-management-accurate-estimates-29622