Question

a project manager is trying to estimate costs for a new project to develop bottles out of recycled material. what method should be utilized for this type of estimating?
options:
bottom - up
parametric
top - down
analogous

Explanation:

Parametric estimating uses statistical relationships between historical data and project variables (like material quantities, production rates for bottle manufacturing) to calculate costs, making it suitable for this structured, measurable project of producing recycled material bottles. Bottom-up estimates individual task costs (too detailed early on), top-down/analogous rely on past similar projects (less precise than parametric for this quantifiable work).

Answer:

Parametric