As a project manager, discuss the cost and time methods you would chose to work with and why you believe these are the best. What methods would you not want to work with and why? Choose one of your least favorite methods, and discuss how you would manage a project if you were forced to use this method.
Project managers have several tools and techniques at their disposal to estimate project time and cost. I will discuss Bottom Up Analysis, Project Simulation, Estimating Based Upon Project End Date, and Estimating Based Upon Project Total Cost.
Bottom up analysis is a technique to improve the accuracy of the overall project estimation. This technique requires the project team to deconstruct the work into very small work packages. For the most part, the smaller the work package is, the easier it is to estimate because the work scope is very small. The disadvantage to this technique is that it can be very time consuming.
Project simulation is a way of combining the uncertainty of 3 ...
The expert examines project management for cost and time methods.