Question

1. Compare and contrast the advantages and disadvantages of analogues and bottom-up estimating

Answer 1

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Bottom-up estimating is a project management technique to assess the cost or duration of projects and parts of a project. The term bottom-up estimating gives an allusion to the elementary concept, the cost, duration or resource requirements are assessed at a very granular level. This means that the evaluation is done for work packages that are the lowest and most detailed level of reform in the job classification.

The pros and cons are: -

1. The advantage of bottom-up estimating is that it adds accuracy. The main effect of bottom-up self-examination is when it requires completion. Other estimation methods can start the project process using the requirements at the top level, but only the lower levels need to be considered.

2. The main effect of the bottom-up estimation is that it takes time to complete. Other assessment methods can start the project process using the requirements at the top level, but only the lower levels need to be considered.

3. Bottom-up estimation is not the best solution for projects that have a long time to prepare or for projects that have contracted with assets that do not start early compared to when the work is completed.

Analogue estimation

Depending on the time or money received in similar projects. Therefore, this assessment is based on team experience or project history. The effect of this method is that the assessment is not permanent.

The pros and cons are:

1. Analog Assessment is a technique for assessing various project dimensions and meter sizes.

2. The disadvantages of measuring a project that can be evaluated by this technology are that it can vary depending on the size of the project, the severity of the project, and the severity.

3. The advantage is often used to compare the size of a particular item when information about that specific item in an existing project is scarce or not available later.

4. Project metrics include project cost, project budget, project goal and project time.