The following reading and reference provides insight into this discussion on budgeting strategies:
PMBOK® Guide.
Section 6.4, “Estimate Activity Durations,” pages 195–204.
Developing an accurate cost estimate is difficult, according to the PMBOK® Guide. Project managers frequently use two of the cost-estimating techniques, analogous estimating (top-down) and bottom-up estimating. For this discussion, evaluate these two techniques in terms of your project management plan and respond to the following in 3–4 paragraphs:
Which budgeting strategy, top down or bottom up, will you use for your project?
Why did you select this strategy?