The difference between bottom-up and top-down estimating approach and the situation where bottom-up is preferred over top-down and vice-versa. Introduction: Top down approach makes a rough estimate of the project cost and time duration and then breaks into more details to get the activity time and cost. Bottom up approach first makes concrete estimate of the activities’ time and cost and them consolidates them to make budget and cost estimates for the project.

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Answer 1

Question

Chapter 5, Problem 3RQ

Summary Introduction

To determine:

The difference between bottom-up and top-down estimating approach and the situation where bottom-up is preferred over top-down and vice-versa.

Introduction:

Top down approach makes a rough estimate of the project cost and time duration and then breaks into more details to get the activity time and cost.

Bottom up approach first makes concrete estimate of the activities’ time and cost and them consolidates them to make budget and cost estimates for the project.

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Answer 2

Question

Chapter 5, Problem 3RQ

Summary Introduction

To determine:

The difference between bottom-up and top-down estimating approach and the situation where bottom-up is preferred over top-down and vice-versa.

Introduction:

Top down approach makes a rough estimate of the project cost and time duration and then breaks into more details to get the activity time and cost.

Bottom up approach first makes concrete estimate of the activities’ time and cost and them consolidates them to make budget and cost estimates for the project.

Expert Solution & Answer

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Answer 3

Question

Chapter 5, Problem 3RQ

Summary Introduction

To determine:

The difference between bottom-up and top-down estimating approach and the situation where bottom-up is preferred over top-down and vice-versa.

Introduction:

Top down approach makes a rough estimate of the project cost and time duration and then breaks into more details to get the activity time and cost.

Bottom up approach first makes concrete estimate of the activities’ time and cost and them consolidates them to make budget and cost estimates for the project.

Expert Solution & Answer

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Answer 4

Question

Chapter 5, Problem 3RQ

Summary Introduction

To determine:

The difference between bottom-up and top-down estimating approach and the situation where bottom-up is preferred over top-down and vice-versa.

Introduction:

Top down approach makes a rough estimate of the project cost and time duration and then breaks into more details to get the activity time and cost.

Bottom up approach first makes concrete estimate of the activities’ time and cost and them consolidates them to make budget and cost estimates for the project.

Expert Solution & Answer

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Answer 5

Chapter 5, Problem 3RQ

Summary Introduction

To determine:

The difference between bottom-up and top-down estimating approach and the situation where bottom-up is preferred over top-down and vice-versa.

Introduction:

Top down approach makes a rough estimate of the project cost and time duration and then breaks into more details to get the activity time and cost.

Bottom up approach first makes concrete estimate of the activities’ time and cost and them consolidates them to make budget and cost estimates for the project.

Answer 6

Chapter 5, Problem 3RQ

Summary Introduction

To determine:

The difference between bottom-up and top-down estimating approach and the situation where bottom-up is preferred over top-down and vice-versa.

Introduction:

Top down approach makes a rough estimate of the project cost and time duration and then breaks into more details to get the activity time and cost.

Bottom up approach first makes concrete estimate of the activities’ time and cost and them consolidates them to make budget and cost estimates for the project.

Answer 7

Chapter 5, Problem 3RQ

Summary Introduction

To determine:

The difference between bottom-up and top-down estimating approach and the situation where bottom-up is preferred over top-down and vice-versa.

Introduction:

Top down approach makes a rough estimate of the project cost and time duration and then breaks into more details to get the activity time and cost.

Bottom up approach first makes concrete estimate of the activities’ time and cost and them consolidates them to make budget and cost estimates for the project.

Answer 8

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Answer 9

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Answer 10

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Answer 11

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Solution Summary: The author explains the difference between top-down and bottom-up estimating approaches. Top down estimates are derived from analogy, group consensus, or mathematical relationships.

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