a project manager is trying to estimate costs for a new project to develop bottles out of recycled material…

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? analogous top - down parametric bottom - up

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? analogous top - down parametric bottom - up

Answer

Brief Explanations:

Analogous estimating uses historical data from similar projects. Since it's a new - project to develop bottles from recycled material, analogous estimating can draw on past projects related to recycled - material products or bottle - development projects to estimate costs. Top - down estimating starts with a high - level budget and distributes it. Parametric estimating uses statistical relationships. Bottom - up estimating involves estimating costs of individual components and aggregating them. For a new project with some similar past projects, analogous is a good fit.

Answer:

Analogous