How to use Bottom up estimating techniques for projects

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 4,506 other subscribers

Here is the way you can use Bottom Up estimating techniques in Project management…




Bottom-Up Estimating technique is a method of estimating the duration of each work package in the Work Breakdown Structure.

In using the Bottom Up estimation, the estimate is then rolled up or aggregated for progressively higher levels within the Work Breakdown Structure.



The Project Manager reviews estimate features and add the required overhead estimate to compile the total project cost.



In Bottom Up Estimating, you are calculating the cost of your project from the ground up in order to know the total cost of your project. This is normally used for Project that you are well versed in how it is been done.



Bottom-Up Estimating techniques is the most accurate method but it is also challenging, costly and time-consuming.


bottom up estimating techniques

When to use Bottom Up Estimating techniques…


You can use Bottom Up Estimating when more details are available to you about how each of the work packages will be carried out. That means you must know that needed to be done on the project before you can use this method of calculation.



You also use Bottom Up estimating technique when you need more accurate estimating. In using it, you have to know all the activities that needed to be done before you can apply this method of estimation.



It is also time-consuming. You can only use this method of estimation when you have the ample time that you want to devote to estimation.



You should also use Bottom Up estimating techniques for work packages with the highest level of uncertainty associated with cost. Make sure that you weigh the additional accuracy provided by bottom-up estimating against the additional cost of making the estimates.

 

 

Action Point

You need to confirm your subscription by clicking on the link sent to you. You can check the spam folder for it. Add us to your mailing list to receive directly from us.

 

PS: Click on the link below to sign up for my Online E-Course CRM Training. Make sure you confirm your subscription by clicking on the link sent to you. Thanks.

 

image_pdfGENERATE PDFimage_printPRINT

Be the first to comment

Leave a Reply

Your email address will not be published.


*


CommentLuv badge