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Question:
Bottom-up estimating is generally considered to provide the most accurate estimate out of the options you listed. This technique involves breaking down a project into smaller, more manageable components and estimating the effort and cost required for each component individually. These individual estimates are then aggregated to provide an overall estimate for the project.
Analogous estimating involves using historical data from similar projects to estimate the effort and cost required for a new project. While this technique can be useful, it may not provide as accurate an estimate as bottom-up estimating, as it relies on the assumption that the current project will be similar enough to past projects to make the comparison valid.
Parametric estimating involves using statistical data and mathematical models to estimate the effort and cost required for a project. This technique can be useful in certain situations, but may not be as accurate as bottom-up estimating for projects with a high degree of variability.
Reserve analysis involves adding contingency reserves to an estimate to account for uncertainty and risk. While this can help to ensure that a project is adequately funded, it does not necessarily improve the accuracy of the estimate itself.
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