Running head: DISCUSSION1Discussion: Bottom-up EstimatingStudents NameInstitutional AffiliationDISCUSSION2Discussion: Bottom-up EstimatingBottom-up estimating is a way of value approximation where the value of smallcomponents is approximated and then summed up to generate the overall value. It is used in thedrawing up of budgets and schedules in project management. It typically involves the breakingdown of a project work into smaller components whose duration and cost can be estimated moreaccurately (Billows, 2019). The duration estimates are aggregated to come up with the schedulewhile individuals cost estimates are accumulated to form the budget.Bottom-up estimating has strengths as well as weaknesses. One of the main strengths isgeneration of greater level of accuracy. The high level of accuracy is achieved because everycomponent of the project is considered i ...
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