CAPM Practice Question

Bottom-up estimating calculates resource requirements for each individual activity or work package at the lowest level of the work breakdown structure and then aggregates those figures to create a project-level estimate, leading to high accuracy. Parametric estimating instead applies statistical relationships (e.g., cost per square foot) to derive totals. Analogous estimating takes high-level data from similar past projects without detailed aggregation. Expert judgment relies on specialists' experience rather than a systematic roll-up from the lowest level.