When you are developing the estimates for project, you choose in a mathematical model to predict estimate. What type of estimation method are you using?
A.
Parametric estimating
B.
Bottom-up estimating
C.
Top-down estimating
D.
Analogous estimating
Explanation:
Bottom-up estimating: Estimating the cost of individual work items and then rolling up the costs to arrive at a project total: It is more accurate. Analogous estimating: Analogous estimating is also called top-down estimating and uses the actual cost of a previous, similar project as the basis for estimating the cost of the current project. Parametric estimating: Using project characteristics (or parameters) in a mathematical model to predict costs (e.g., price per square meter).