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Detailed explanation-1: -Conclusion. The estimation method that is the most accurate is called bottom-up estimation. In addition to providing an estimate of the resources, amount of time, and costs associated with the planned work, this method can also be used to evaluate change requests.

Detailed explanation-2: -Accuracy of Bottom-up Estimates The bottom-up estimation technique is also referred to as deterministic or detailed estimating. It is often used as the so-called “definitive estimate” – a type of cost estimate that comes with an accuracy between-5% and +10% according.

Detailed explanation-3: -Bottom-up estimating allows team members to see all the components of a project in one place, and it saves them time and effort by estimating separately. Saves time. By estimating the work package in advance, a manager can make better decisions and avoid costly mistakes. It also helps avoid surprises down the road.

Detailed explanation-4: -What Is Bottom-Up Estimating? Also known as the deterministic, definitive or detailed estimate, it is a project management methodology approved by Project Management Institute. It ensures to cover each detail for accurate estimation of cost, duration or resources required for the project or its parts.