Bottom-up estimating is a project management technique used to estimate the overall duration and cost of a project. It involves breaking down the project into smaller, more manageable tasks and then estimating the time and resources required for each task. This method is often used when there is limited information available about the project or when the scope of the project is not well defined.
The bottom-up approach allows for more accurate estimates as it takes into account all of the individual tasks that need to be completed in order to complete the project. This method also allows for better resource planning as it provides an understanding of how much time and money will be needed for each task.
One of the main advantages of using bottom-up estimating is that it allows for more accurate estimates. By breaking down the project into smaller tasks, it becomes easier to identify any potential risks or issues that may arise during the course of the project. This can help to reduce any surprises or delays that may occur during the course of the project.
Another advantage of this method is that it allows for better resource planning. By understanding how much time and money will be needed for each task, it becomes easier to allocate resources accordingly. This can help to ensure that all tasks are completed on time and within budget.
One of the main disadvantages of using bottom-up estimating is that it can be time consuming. Breaking down a project into smaller tasks requires a lot of effort and can take up a significant amount of time. Additionally, if there are changes made to the scope or timeline of a project, then these changes must be accounted for in each individual task.
Another disadvantage is that this method does not take into account any external factors which could affect the completion of a project. For example, if there are changes in market conditions or new regulations which could impact a project, then these must be taken into consideration when making estimates.