What are the challenges involved with bottom-up estimating?


What are the challenges involved with bottom-up estimating? Which technique would you use when cost and resources are heavily constrained? Why? 
Evaluate a project that involved some degree or risk, and discuss specific risk management techniques that you could have (or did) make use of for the project. Be sure to include specifics examples of at least three of the following four techniques in your response: risk avoidance, risk transference, risk mitigation, or risk acceptance.

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Basic Computer Science: What are the challenges involved with bottom-up estimating?
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