Describe guidelines for estimating time, costs, and resources. Describe the methods, uses, and advantages and disadvantages of top-down and bottom-up estimating methods. Distinguish different kinds of costs associated with a project.

Management Question

• Describe guidelines for estimating time, costs, and resources.
• Describe the methods, uses, and advantages and disadvantages of top-down and bottom-up estimating methods.
• Distinguish different kinds of costs associated with a project.
• Suggest a scheme for developing an estimating database for future projects.
• Understand the challenge of estimating mega projects and describe steps that lead to better informed decisions.
• Define a “white elephant” in project management and provide examples.
• Use learning curves to improve task estimates