![]() Since there are 10 posts, that equates to $750. The local hardware store suggests a fencepost cost of roughly $75/post. This is the the least work but sacrifices the ability to find and fix problems. On the other end of the spectrum, only the entire project cost could be tracked. The most detail, as well as complexity, will exist at the lowest level. The bottom up estimate can be tracked on any level. For example, if task #1 has an accuracy of 10% and task #2 has an accuracy of 20%, the overall estimate will have an accuracy of 15%. The accuracy of a bottom up estimate is the average of the lower level components of the estimate. They are each “rolled up” into the higher level and represent the sum of the lower level. This is called a Work Breakdown Structure (WBS).Įach task, phase, and the overall project each have an estimate. The phases represent groups of tasks, and the overall project is a group of phases. Many projects group related tasks into phases. The three estimate types are used on individual tasks, which are then “rolled up” into the overall project. Types of EstimatesĪny of the three main types of estimates can be used together with bottom up estimating.īottom up estimating is used in conjunction with each or any of these. Often the individual project team members who will be performing the task provide the estimates, because they are in a better position to estimate a task that they will be working on. Bottom up estimating is the project management technique of estimating individual tasks and then combining them into an overall project estimate.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |