Question

As a project manager creating a budget, you’re thinking about all the parts of a project from beginning to end—making a list of every material, resource, and contract worker. What do you call this type of budgeting?1 pointTop-down approachBuffers and reservesBottom-up approachContingency

Answer 1

The type of budgeting where a project manager creates a list of every material, resource, and contract worker for a project from beginning to end is called "bottom-up approach." In this approach, the project manager estimates the cost of each individual task, resource, and material required to complete the project, and then aggregates the costs to create an overall project budget. This approach provides a detailed and accurate estimate of the project's cost, but can be time-consuming and may require input from multiple team members.