Assignment:
There are five major methods in project management for estimating the cost of a project that include the bottom-up method, top-down method, analogy method, expert judgment method, and parametric method.
Select and critically evaluate an estimating method. In your, evaluation do the following:
- Explain the method and provide a detailed example that demonstrates how it would be used to plan a project in a real or hypothetical scenario.
- Describe the advantages and disadvantages of this method in your scenario.
- Explain why this would be the best method for the scenario you described versus the other available methods.