The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current project is known as
A) detailed WBS work package estimates.
B) template method.
C) function point method.
D) time-phased cost estimates.
E) phase estimating.

Question

Quizplus · Accepted Answer

The template method involves using cost estimates from past, similar projects as a basis for estimating the costs of the current project. This approach is particularly useful when the current project closely resembles previous projects, allowing for a more accurate estimation based on historical data.

The Bottom-Up Approach for Estimating Times and Costs That Uses