A project manager creates a detailed list of costs for each activity involved in the project and then uses the sum of the individual activities to create the budget. Which of the following cost estima

Bottom-up estimating is a highly detailed approach where the cost of each individual work package or activity is estimated first. These detailed estimates are then rolled up and summed to arrive at the total project cost. This method provides a more accurate and precise budget, particularly when detailed information about project activities is available.

Expert judgment relies on the knowledge and experience of experts to provide estimates, which is a technique that can be used within other estimating methods, not a method for summing activity costs.

Parametric estimating uses a statistical relationship between historical data and other variables (e.g., cost per unit) to calculate cost or duration, rather than summing individual activity costs.

Top-down estimating involves estimating the total project cost based on previous similar projects and then allocating that total down to individual activities, which is the opposite of a bottom-up approach.