The preferred method for situations where the cost and time estimates are important, in a fixed contract situation, and when the customer wants a lot of detail is the ___________ approach to estimating project time and costs.
A) top-down
B) experiential
C) bottom-up
D) reference class
E) professional estimation

Question

Quizplus · Accepted Answer

The bottom-up approach is preferred in situations where detailed and accurate cost and time estimates are crucial, such as in fixed contract scenarios. This method involves estimating the cost and time of individual tasks or components and then aggregating them to get the total project cost and duration, allowing for detailed and accurate planning as desired by the customer.

The Preferred Method for Situations Where the Cost and Time