Question: An experienced project manager has successfully managed many new office build-outs for their East Coast company. The company just announced that they will be expanding

An experienced project manager has successfully managed many new office build-outs for their East Coast company. The company just announced that they will be expanding operations to the Midwest, and a lease has been signed for 5,000 square feet of space in Cincinnati. The new office has to be up and running in 3 months, and leadership has asked for a construction estimate by the end of the day. How can the project manager come up with a credible estimate for the new space quickly?

a. Tell the manager that you can't come up with an estimate in a few hours.

b. Ask the manager questions about the new office space to understand the departments that will be located there, the level of finishes desired, etc. Then base the new budget on previous, similar projects.

c. Create a work breakdown structure by using another previous project and generate a bottom-up estimate for each work package.

d. Go through all office buildouts for the past five years. Calculate an average construction cost per square foot and multiply the 5,000 square feet by this historical cost per square foot to calculate the budget.

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