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Homework answers / question archive / What are the differences between bottom-up and top-down estimating approaches? Determine advantages and disadvantages for using each approach
What are the differences between bottom-up and top-down estimating approaches? Determine advantages and disadvantages for using each approach. Under what conditions would you prefer one over the other? Provide a specific example to support your response.
Share a source you will use in writing your resource scheduling methods analysis paper. Provide an APA citation for the source. Provide a brief summary of the source, an evaluation of the merits or reliability of the source, and your personal reaction to the contents of the source such as whether or not you learned anything new regarding project management.
The bottom-up and top-down estimating approaches are both different; a top-down approach you can provide a fast method in terms of estimating from a project. In using a bottom-up approach, you are required to give a detailed proposal to each task that will make up your project. In looking at the advantages, each method allows you to estimate your project from looking at the small stuff to also looking at the big things in terms of project method. Where they differ is in terms of time management is that a bottom-up approach requires more time, which may delay the project for a little while as all the details are worked out. For a fast project, I will use a top-down approach, but for a more in-depth project, I will use a bottom-up approach depending on the conditions of the required project as to how fast it is needed.
Reference:
ROSE, (n.d.). Viewing PMP Exam on Tablet Top-Down Estimating for the PMP Exam. Retrieved from https://www.projectengineer.net/top-down-estimating-for-the-pmp-exam/.
The source I have selected and may use in the resource scheduling methods paper in week five is an article that simply states, “Effective project scheduling plays a crucial role in ensuring project success” (Duggan, 2018).
The article discusses four critical areas in project management: financial, documentation, management, and quality assurance, which are important factors to successful project scheduling. Duggan (2018) mentions the use of Gantt charts and how they “list the project tasks, shows dependencies and defines milestones” also states Gantt charts helps “ record and report progress toward project completion”. In order to organize and complete your projects in a timely, quality and financially responsible manner, you need to schedule projects carefully. Effective project scheduling plays a crucial role in ensuring project success. To keep projects on track, set realistic time frames, assign resources appropriately and manage quality to decrease product errors. “This typically results in reduced costs and increased customer satisfaction” (Duggan, 2018).
The article provides many advantages to project scheduling and Duggan gives a decent explanation of them, however Duggan doesn’t mention the disadvantages of not using resource scheduling. I may use some points from this source in my upcoming paper, however in order to effectively make my point about the importance of resource scheduling I will need to have some of the disadvantages as well. Over the past four weeks I have learned a vast amount of tools on how to use Microsoft Project as it is my first time using this software. I will need to find additional resources to complete next weeks assignment to produce a robust paper.
Reference:
Duggan, T. (2018). What Is the Importance of Project Scheduling & Its Role in Business Projects?. Retrieved from https://yourbusiness.azcentral.com/importance-project-scheduling-its-role-business-projects-9503.html
