Response to DQ – Nigel

This is the Discussion Question :

Your organisation is bidding for a construction project, which consists
of building a commercial complex in the heart of the city. Your organisation has
worked on a similar project that was one-third the size of this one but
completed it with a cost overrun of 20%. As a project manager, you have already
prepared the scope statement and the WBS and are now preparing cost estimates
for the construction project. Which cost estimation technique would you use for
the construction project? Discuss the advantages and disadvantages of your
chosen technique in the context of the construction project.