A project manager who takes over halfway through a project determines that the cost performance index (CPI) is 0.65. A detailed audit identifies that the project cost was analogously estimated, and…

Three-point estimates improve accuracy by considering optimistic, pessimistic, and most likely scenarios, but they are typically used within a broader estimating technique and don't address the fundamental issue of relying solely on analogous estimating.

Validating the Schedule Performance Index (SPI) evaluates schedule deviation, which is related to project performance, but it doesn't address the root cause of inaccurate *cost* estimates or suggest a better *estimation method*.

Including lessons learned from past projects is a valuable general best practice, but it doesn't directly specify a more accurate *estimation technique* that should have been used instead of flawed analogous estimating.

Bottom-up estimating involves estimating costs for individual work packages or activities in detail and then aggregating them to get a total project cost, providing a more accurate and detailed estimate compared to analogous (top-down) estimating which was identified as problematic. This method is more precise when a detailed scope is available, helping to avoid significant cost deviations.