Question: Two days ago, a project team was tasked to prepare time and cost estimates for a fixed price 5-year road construction bid. Today they have

Two days ago, a project team was tasked to prepare time and cost estimates for a fixed price 5-year road construction bid. Today they have an estimate document ready to be presented to Management.

Based on which approach (top down/bottom up) would you consider the estimation is done?

What accuracy range should be considered for such an estimation? Explain in less than 2 lines.

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The estimation is most likely done using the topdown approach This is because the project team was g... View full answer

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