PMI Scheduling Professional Certification (PMI-SP) Practice Exam

What is the primary outcome of employing Bottom-up estimating?

1. Quick estimations with minimal details

2. The most accurate and reliable estimate

3. A high-level overview of project costs

4. Estimates based solely on expert judgment

The correct answer is: The most accurate and reliable estimate

Employing Bottom-up estimating typically results in the most accurate and reliable estimate for project costs and timelines. This method involves breaking down project components into smaller, more manageable parts or activities and estimating costs and resources for each individually. By assessing each task in detail, project managers can gather comprehensive information specific to each element, leading to a better understanding of the overall costs and duration required for the project. This level of detail reduces the likelihood of overlooking critical costs or activities, which often occurs in higher-level estimating techniques. Bottom-up estimating not only allows for detailed analysis but also provides transparency in how estimates are formed, which enhances stakeholder confidence in the budgeting and scheduling of the project. In contrast to quick estimations or those based solely on expert judgment, Bottom-up estimating demands thorough research and analysis, resulting in higher-quality estimates. Additionally, while it does not provide just a high-level overview, it ensures that all parts are considered comprehensively, which ultimately leads to stronger project planning and execution.