September 2005
Beginner to intermediate
288 pages
5h 17m
English
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4 Estimating Models
The most accurate and reliable estimate for a project can be developed when all of the elements of the WBS have been identified with a reasonable degree of reliability and when the RBS has been defined with the desired degree of certainty. This estimate is referred to as the bottom-up estimate, and it is derived from detailed information that is contained in the WBS and RBS at the time of the estimate.
Detailed and accurate estimates require substantial definitive information about the project. They also require a relatively large amount of time and effort for estimating. Therefore, a balance should be struck between the time spent on estimating, the accuracy of the results, and the degree of accuracy required by the stakeholders ...
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