A Bottom-Up Approach to Budgeting Is Circular While a Top-Down

question 55

True/False

A bottom-up approach to budgeting is circular while a top-down approach is linear.

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Definitions:

Crashing

A project management technique used to reduce the time for project completion through the increase of resources on critical tasks.

CPM Network

Critical Path Method Network; a project management tool that outlines every task necessary to complete a project and the relationships between those tasks, helping identify the longest stretch of dependent activities and the time necessary to complete them.

Project Cost

The total financial resources required to complete a project, encompassing all types of expenses.

PERT

Program Evaluation and Review Technique is a project management tool used to plan, schedule, and control complex projects by analyzing tasks and their time estimates.