1. BOTTOM UP ESTIMATES AND TOP DOWN ESTIMATES ARE TWO STRATEGIES IN ESTIMATES A PROJECT. DISCUSS ADVANTAGES AND DISADVANTAGES FOR BOTH STRATEGIES. (20 mark)
2. based on question 1, which strategy is commonly used in your organization in estimating a project. (15 mark)
Top Down estimate:
Top Down is a costing estimate. Under this strategy the cost flows from top to bottom. This means that it is decided by the project manager that example, $100,000,000 would be the cost of the project. It then gets allocated to different heads of expenditure.
Bottom Up estimate:
It is also a costing estimate. Under this strategy the cost flows from bottom to top. This means that the total cost of the project is decided after summing up the cost of each of the identifiable cost center. This even keeps a certain buffer for the risks and the uncertainties that may arise in the project.
Most companies use the bottom-up approach because of the following reasons:
1. It helps in giving an accurate estimate of the cost.
2. The deviation is less as compared to the top-down approach.
3. The quality does not compromise due to the shortfall of resources at the end.
4. It has a buffer reserve to tap the uncertainties.
1. BOTTOM UP ESTIMATES AND TOP DOWN ESTIMATES ARE TWO STRATEGIES IN ESTIMATES A PROJECT. DISCUSS...
discuss what is Top Down and Bottom Up Tiered Lan Strategies. Discuss Which strategy will be preference and why?
Please do some research on top down vs bottom up budgeting. In your post describe the differences between each of these styles of budgeting. Then describe the advantages and disadvantages of each. Then I would like you to state which method you would employ if you were able to choose the method at a company you worked for. Why did you pick the method that you did?
QUESTION 12 Chapter 7 discusses top-down budgeting vs. bottom-up budgeting. First, define top-down budgeting and bottom-up budgeting. Next, discuss the pros and cons of each. Finally, which method would you prefer as a manger? (you do not need to agree with the text) T T T T Paragraph Arial 3 (12pt) Q 5 Of Mashups HTML CSS Path: p Words:0
budgeting stratwgy for building a house top down bottom up project management
Project management problem Question 3 a) Compare and contrast the top-down and bottom-up cost estimation approaches in project management. (50%) b) Explain and describe the purpose of the British Standard BS 6079-3:2000 on project risk management, outlining the typical phases one would have to consider to effectively address project-related risks. (50%)
Please do some research on top down vs bottom up budgeting. In your post describe the differences between each of these styles of budgeting. Then describe the advantages and disadvantages of each. Then I would like you to state which method you would employ if you were able to choose the method at a company you worked for. Why did you pick the method that you did?
What is the bottom-up and top-down method to risk management? Discuss the danger, risk, weakness, and consequence in relations to critical infrastructure. (i.e. natural/manmade/individual disasters/public health/safety/economic-direct,indirect)
Question 5 (1 point) Saved of the following estimates, which MOST accurately reflects the actual cost of the project? Bottom-up Appropriations Top-down Budget Question 6 (1 point) Saved An Elemental Cost Plan is useful to provide a cost estimate at an early stage of a project when very little information is known. Highlight All Match Case
a. Compare 3 estimating techniques: Analogous, Bottom-up and Parametric. Explain the circumstances which determine the method you should use each type as your primary method b. According to PMI (2017, p. 245) There are two common ways to estimate cost and duration using the 3-poin average of the optimistic (O), most likely (M), and pessimistic (P) estim estimate (0+M+P)/3. The second way is based on the Beta distribution that puts more weight on the most likely. Mathematically, your beta estimate...
Your firm is considering two projects with the following cash flows: Cash flows from project B (£000) (500) 200 250 170 25 30 Year Cash flows from project A (£000) 0(500) 167 180 160 100 100 4 1. Calculate the ARR and payback rule 2. If the appropriate discount rate is 12%, rank the two projects 3. Which project is preferred if you rank by IRR? 4. Calculate the discount rate (r) for which the NPVs of both projects are...