The Bottom-Up Method of Estimating Where Work Package Time and Costs

question 34

Multiple Choice

The bottom-up method of estimating where work package time and costs for past projects are used as a starting point for a new project and adjustments are made based on differences in the new project is known as the ___________.

• A) range estimating
• B) parametric procedure
• C) template method
• D) phase estimating method
• E) WBS method

---

Definitions:

Phillips Curve

An economic theory suggesting an inverse relationship between the rate of unemployment and the rate of inflation in an economy.

Inflation

A continuous rise in the overall price level of goods and services within an economy over a period.

Unemployment

The condition in which a capable worker who is actively seeking employment is unable to find work.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in bank accounts.