A project manager is currently estimating the team resources, materials, equipment, and supplies needed for the project activities. Which of the following would BEST assist the project manager in accurately estimating these resources?
You selected this option
Applying analogous estimating by comparing the resources required for the project to those of a previous similar project.
You selected this option
Using bottom-up estimating to aggregate resource estimates from the activity level to the work package level and up.
You selected this option
Relying on expert judgment alone to predict the resources needed for the project without any formal estimation technique.
You selected this option
Employing parametric estimating to determine resource needs based on statistical relationships from historical data.
The project manager would most likely use bottom-up estimating for detailed and more accurate estimations of the required resources. This technique starts with estimating resources at the activity level and then aggregates estimates to derive a higher-level summary for the entire project. Analogous and parametric estimating could also be useful, particularly in the early stages of a project when detailed information is lacking. However, for a detailed estimate, bottom-up estimating is considered more accurate because it is based on a lower level, detailed view of the components that make up the project.
Ask Bash
Bash is our AI bot, trained to help you pass your exam. AI Generated Content may display inaccurate information, always double-check anything important.
What is bottom-up estimating in project management?
Open an interactive chat with Bash
What are the advantages of using bottom-up estimating?
Open an interactive chat with Bash
How does bottom-up estimating compare to other estimating techniques?
Open an interactive chat with Bash
Project Management Professional
Waterfall
Your Score:
Report Issue
Bash, the Crucial Exams Chat Bot
AI Bot
Oh snap!
Loading...
Loading...
Loading...
Project Management Package Join Premium for Full Access