Answered

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Which approach to estimating project time and cost is usually completed by upper management?
○ Top Down
Bottom Up
O Net Present Value and/or Payback
O Regression Analysis

Sagot :

GinnyAnswer

Final answer:

The top-down approach is favored by upper management for estimating project time and cost, while NPV analysis and regression analysis provide additional tools for project evaluation in business.


Explanation:

Top Down Approach: The top-down approach to estimating project time and cost is typically completed by upper management. In this method, a high-level estimate is made before breaking it down into more detailed estimates.

Net Present Value (NPV): NPV analysis is a commonly used approach that involves estimating all costs and benefits associated with a project over a specific time horizon and assigning monetary values to them to determine if the project is profitable.

Regression Analysis: Regression analysis is a statistical method used to analyze the relationship between variables. While not directly related to estimating project time and cost, it can be used in project management for forecasting purposes.


Learn more about project time and cost estimation here:

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