Discussion: Cost estimate method (Focused Debate)
There are several different methods of preparing a budget: top-down, bottom-up and iterative. In all cases, the main goal of the budgetary process is to craft an accurate assessment of the costs of completing the project without overburdening the budget with extraneous costs. Working from your own experiences, what cost estimate methods have you found to be the most useful or least useful? What might be some internal and external dynamics that affect the accuracy of a given cost estimate method?
For this Focused Debate, you will take a position on a cost estimate method.
To complete this Discussion:
Post: Analyse the cost estimate method you think is the most accurate. Defend your position.