Common methods in project management for estimating cost

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Reference no: EM131371416

There are five common methods in project management for estimating the cost of a project that include the bottom-up method, top-down method, analogy method, expert judgment method, and parametric method. Select and critically evaluate an estimating method. In your evaluation, do the following: Explain the method and provide a detailed example that demonstrates how it would be used to plan a project in a real or hypothetical scenario. Describe the advantages and disadvantages of this method in your scenario. Explain why this would be the best method for the scenario you described versus the other available methods.

Reference no: EM131371416

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